SUNBIZ

FSC Annual Report Correction

The South Pacific Stock Exchange (SPSE) has released a correction on a misprint issued by the Fiji Sugar Corporation Limited (FSC) 2014 Annual Report. The Corporate Profile section of the
17 Jun 2015 10:05
FSC Annual Report Correction
FSC Executive Chairman Abdul Khan

The South Pacific Stock Exchange (SPSE) has released a correction on a misprint issued by the Fiji Sugar Corporation Limited (FSC) 2014 Annual Report.

The Corporate Profile section of the report (page 2 of the Report) contains the following statement: ‘Corporation’s shares are listed and traded on the South Pacific Stock Exchange’.

FSC Executive Chairman Abdul Khan said: “We have advised all our shareholders of the misprint and what the proper wording is. It was just a minor thing that got misprinted.”

However, FSC shareholders and the general public are to note that FSC was delisted from the Exchange on February 24, 2011.

Therefore its shares are no longer traded and have not been traded on the SPSE since the date of delisting.

The SPSE has highlighted the misstatement with the FSC Executive

Chairman and both parties have agreed that FSC shall inform its shareholders of the misstatement and issue a rectified statement on the matter.

SPSE has further recommended that FSC publish the same on its website for the information of non-shareholders who may have accessed the 2014 Annual Report.

SPSE chief executive Latileta Qoro said: Furthermore, we wish to inform the general public that FSC remains a public company; it is therefore accountable to its shareholders under the provisions of the Companies Act.

“However, it is not required to comply with any requirements of the SPSE Listing Rules or continuing listing requirements.

“The FSC delisting was the result of a unanimous resolution adopted by its shareholders at the company’s Annual General Meeting in 2010.”

It was subsequent approval by the SPSE of a voluntary delisting application that was submitted by FSC in October of the same year.

Feedback: rachael.nath@fijisun.com.fj


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