With reference to the article titled ‘Piscopo disclosed business interests day after questions’ (October 4), in particular the part saying there was no reply from the Lands Authority chairman, please find hereunder the chairman’s reply on behalf of the board sent on Wednesday:
“The board of governors has received the explanation given by the CEO and it is satisfied with the explanation given, particularly the timely proactive action taken by [James] Piscopo in selling his shareholdingto eliminate any potential perceived conflict.
“The board has also accepted Mr Piscopo’s request not to involve himself in discussions with Fortina Group.”
Editorial note: The Lands Authority chairman was quoted in the item in question saying the CEO had informed the board of his interests in two companies and that he had sold his stake in one of them and was in the process of selling his shares in the other. The chairman also said the board “felt that [the CEO] should not be involved in negotiations with the Fortina Hotel”.
The report added that questions to the chairman on whether the CEO’s ‘disclosure’ was made within the parameters of the law and if the board would be taking any action against him over a potential infringement remained unanswered.
The Times of Malta still awaits a clear reply to these questions.