Blue Diamond loses two chairmen within four days

June, 23, 2016

A one-time chairman of the Securities and Exchange Commission, Dr. Dayanath Jayasuriya who assumed duties as the new chairman of Blue Diamond Jewellery Worldwide PLC has resigned for his post. He is the second to have resigned as chairman of this company within the last four days.

Chinese national Xia Liqiang’s term was ended on 20 June and subsequently Dr. Dayanath Jayasuriya was appointed as Chairman and a Non-Executive Director.

Meanwhile, former chairman Xia Liqiang took over as Deputy Chairman and Managing Director of Blue Diamond Jewellery from 20 June.

However, Secretaries to the Company, KHL Corporate Services Limited, informed the Colombo Stock Exchange that Dr. Dayanath Jayasuriya too has resigned.

While Blue Diamond Jewellery Worldwide is currently faced with severe crises, and there is an ongoing inquiry against former Chairman Xia Liqiang over a share transaction. There are allegations against him transparency issues over funds collected through a share ownership issue.

Under this situation, the company’s share trading has been halted since 13 May 2016.