- Mira Makar, director and joint principal shareholder of Triad Group, has called on the company to provide shareholders with an update on current trading without delay.

Makar, who was suspended as the CEO of Triad Group in February this year, said last month that she is taking legal action to gain access to company accounts.

And today Makar added to her criticism of the board and her concerns for the financial health of the company after the recent AGM.

Makar says that at the AGM, chairman John Rigg confirmed that a contract win with the Department of Transport, announced on the last trading day ahead of the AGM, was the only new contract won by the Consulting and Systems business this year and also that the contract was won some two months prior to its announcement.

He said that although the contract was not new, it was only announced on the eve of the AGM 'for administrative reasons'.

Makar said the Department of Transport contract is believed to be fairly modest in value as, had it been material, it would have been incumbent on the company to announce it immediately.

At the AGM Rigg declined to disclose the value of the contract and conceded that the Consulting and Systems operation has won no significant other business this year.

Makar says this apparent substantial fall in new Consulting and Systems business sales from the previous year will be of 'grave concern' to shareholders and any such fall in sales has not been communicated to the market.

Makar also claims that, at the AGM, a number of shareholders expressed their concerns over the paucity of financial information. Concerns were also raised about reports that the board itself, which includes Makar, had received no financial information between her suspension and the board meeting on July 26 to approve the preliminary announcement.

Responding to this, Alistair Fulton, the sole non-executive director, conceded, 'we could have done with more information and on a more regular basis'.

As part of her efforts to obtain more information on the company's trading and underlying financial situation, Makar is proceeding with a Court action to compel full access to the books and records of the company.

However, she believes that the other three directors may well seek to prevent disclosure by removing her from the board before the Court is able to hear this matter.