SUNBIZ

FHL Unit Trust Becomes A Major Shareholder In Pleass Global

Fijian Holdings Unit Trust has now become one of the major shareholders in Pleass Global Limited (PBP), a South Pacific Stock Exchange-listed company known for its Aqua Safe mineral water.
17 Sep 2014 07:34
FHL Unit Trust Becomes A Major Shareholder  In Pleass Global
Ro Filipe Tuisawau (standing) in Parliament. Photo: Parliament of Fiji

Fijian Holdings Unit Trust has now become one of the major shareholders in Pleass Global Limited (PBP), a South Pacific Stock Exchange-listed company known for its Aqua Safe mineral water.

The recently-launched Vai Wai product from Pleass Global.

The recently-launched Vai Wai product from Pleass Global.

This is after Fijian Holdings Unit Trust, over a period from September 3 to 15, purchased 7.4 per cent shares in Pleass Global.

It bought 444,156 shares from the six million issued shares for Pleass Global which totalled $432,166.90 whereby the price ranged from $0.93 to $1.00.

Following the acquisition, Fijian Holdings Unit Trust is now ranked third highest shareholder in Pleass Global.

Pleass Global chairman/managing director, Wariwck Pleass, said they were glad to now count FHUT as one of their major shareholders.

“I have been very vocal in the past four months about the company’s internal valuations and of my perceptions that the market is undervaluing our shares,” he said.

“Now we see this strong local institutional investor picking up substantial numbers of Pleass Global shares, I believe very wisely.

“But I remind existing shareholders of my advice and announcements at our last annual general meeting.”

Mr Pleass said he has made no secret of his desire to see brokers and other interested stakeholders review Pleass Global for the benefit of current and potential shareholders.

He said he is pleased that two capital market companies have engaged with the company towards that end and hopes market reports on Pleass Global will be available to their clients in the coming months.

“Pleass Global is in the midst of an exciting phase of development with the launch of our new product VaiWai Natural Artesian Water and construction of our new bottling factory and head office at Kila World in Namosi,” he said.

“We welcome Fijian Holdings Unit Trust and their stakeholders to our family and our journey. This new partnership will be beneficial to both entities.”

Feedback:  rachnal@fijisun.com.fj

 




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