TSTT says claims that it spent nearly $500,000 on a recent board retreat is “grossly inaccurate and misleading”.
The cost was contained in a report by Guardian Media yesterday.
The company has issued a statement saying it was contacted by the reporter prior to the article’s publication and requested copies of the invoices to verify their authenticity.
It claims however that this request was denied and accused the media house of not allowing it the opportunity to properly review the documents or provide a full response.
TSTT says an internal review has determined that the amounts cited in the article are overstated by approximately 60%.
It adds that the decision to host the retreat in Tobago was meant to manage costs and reduce forex expenditure, since similar retreats in previous years were done in locations like New York and London and facilitated by external consulting firms.
Legal action may now be on the table, with the company stating that it has referred the matter to its attorneys for review.
