ThomasLloyd Energy Impact manager denies board's whistleblower accusations
'[We] would not expect publication of allegations of this nature unless and until they have been fully investigated and appropriately corroborated,' the manager said.
Yesterday (15 August), the board of TLEI revealed that new information provided by a whistleblower implied it had been misled by the manager over problems at the RUMS project that led to the trust's share suspension in April this year.
Whistleblower implies ThomasLloyd Energy Impact board was misled by manager
However, in a statement published this morning, the manager, alongside ThomasLloyd Group (TLG) called it «deeply inappropriate» for the board to have published whistleblowing allegations which, by its own admission «it continues to investigate».
"[We] would not expect publication of allegations of this nature unless and until they have been fully investigated and appropriately corroborated," the manager added.
«The investment manager confirms that until it saw the TLEI board announcement, it had no knowledge of such allegations. To date, the TLEI Board has not sought to verify the substance of such allegations with the investment manager, who has therefore not had an opportunity to respond to these allegations.»
While the manager said it had written privately to the board to request further details on the allegations so that it can respond as appropriate, it insists that it has «no reason to believe the allegations to be true and in fact vehemently denies them».
The statement also reinforced the manager's prior arguments that the board's actions are «on the basis that they are self-serving and value destructive».
ThomasLloyd Energy Impact manager urges continuation to prevent destruction of shareholder value
The manager said it «vehemently denies»
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