What’s going on with NEL?

THE EDITOR: Is National Enterprises Ltd (NEL) still in operation? The quarterly financial statements have not been published since February. Three are currently outstanding.

The renewal fee for the NEL website has not been paid, so the site has been down for weeks.

There hasn’t been a general manager in months. The last one resigned or was resigned.

The last communication sent out by the company was to inform of a cryptic change in its accounting.

Meanwhile the stock has lost close to 75 per cent of its value over the last few years and dividends have been steadily decreasing. There is no one answering the phones, so there is no way to get info since the website and e-mail are down.

This is a publicly traded entity that is owned by nationals of TT. It is sickening that the Government, the SEC and the stock exchange allow the company to fester without communicating to shareholders what exactly is going on with it.

RICHARD DWARIKA

Tunapuna