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Fiji TV Shareholders’ Questions Will Be Answered During AGM

Fiji TV Shareholders’ Questions Will  Be Answered During AGM
From left: Chief Executive, Fiji Television Limited, Geoffrey Smith and Fijian Holdings Group Chief Executive Nouzab Fareed .
October 05
12:39 2015

Fiji Television Limited shareholders will have all their questions answered during the company’s annual general meeting this Thursday.

This has been highlighted by Fijian Holdings Group chief executive, Nouzab Fareed. Fiji TV is a subsidiary of Fijian Holdings.

Mr Fareed, also a director of Fiji TV, made these comments following approval from the South Pacific Stock Exchange for voluntary suspension of trading for Fiji TV from Friday.

Fiji TV’s reason for this was to ensure that shareholders and the general public were fully aware of all the pertinent information relating to the status of Fiji TV, SKY Pacific and Media Nuigini.

Mr Fareed said this decision had been taken in the best interest of the shareholders/potential investors.

He further said if anyone had any questions, they can send these to Fiji TV chief executive, Geoffrey Smith on his email: gsmith@fijitv.com.fj

“All questions will be compiled and be answered at the annual general meeting on Thursday,” Mr Fareed said.

SKY Pacific sale to Digicel came under scrutiny this week following concerns that Fiji TV would no longer be shown once the SKY Pacific operations were taken by Digicel.

However, Government had to interfere in these announcements where a statement was released that Digicel has not yet been granted any licence.

South Pacific Stock Exchange chief executive, Latileta Qoro, said: “Information relating to the sale has been periodically provided by FTV via market announcements.

“However, specific details about the transaction including how the sale of SKY Pacific is expected to impact Fiji TV’s financial forecast, shareholder value and strategic direction has yet to be provided to all shareholders.

“Suspension of trading is warranted, especially amidst speculations in the market surrounding the sale of Sky Pacific to Digicel.

“The voluntary trading suspension should ensure that future trades are executed by well-informed investors.”

The voluntary trading suspension of FTV shares shall be uplifted before the normal trading session opens on Friday, October 9.

The licensed broker representatives will not be able to execute FTV orders until the voluntary suspension is lifted.”

Feedback:  rachnal@fijisun.com.fj

 

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