SUNBIZ

Suspension Lifted For Fiji Television Limited

The voluntary suspension of trading in Fiji Television Limited (FTV) shares has been lifted with immediate effect following the disclosure of pertinent information relating to the sale of Sky Pacific,
11 Oct 2015 10:30
Suspension Lifted For Fiji Television Limited

The voluntary suspension of trading in Fiji Television Limited (FTV) shares has been lifted with immediate effect following the disclosure of pertinent information relating to the sale of Sky Pacific, the status of Media Niugini Limited and future operations of FTV at the company’s Annual General Meeting (AGM) on Thursday and the subsequent release of the same via Market Announcement today.

Trading of FTV shares was suspended on Friday, 2nd October 2015 until shareholder queries relating to FTV, Sky Pacific and Media Niugini Limited (MNL) were addressed and made public.

The suspension was applied to protect the interest of FTV shareholders/potential investors and to maintain an orderly market.

SPSE Chief Executive Officer, Ms Latileta Qoro said “The Exchange commends the agreed-upon presentations made by the Management Team of FTV at the AGM which allowed for open and honest discussion with shareholders who are the owners of the company prior to the sale of Sky Pacific to Digicel (Fiji) Limited, which remains subject to the approval of the line Ministry.

“It was positive to note the number of shareholders in attendance and the nature and number of questions, comments and concerns raised about Sky Pacific and MNL at the AGM.

“The deliberations at the AGM reiterated the need for and value of accountability and adequate disclosures of material information by the Board to shareholders.

“The Exchange is confident that with the recent disclosures, shareholders are now in a better position to make an informed investment decision about their FTV shares.

“The Exchange and FTV Management shall continue to ensure that all material information relating to the sale of Sky Pacific is provided to the market”

Ms Qoro added: “The Exchange also wishes to highlight that while the AGM provides a platform for shareholders to openly discuss their views about the company they have invested in, AGMs only occur once a year.

“Shareholders are therefore encouraged to monitor Market Announcements issued through the SPSE website and media platforms and have the right to raise any queries/concerns with the Exchange which shall act in the best interest of shareholders and the market.”

Trading in FTV shares will resume with immediate effect.

Feedback: rachnal@fijisun.com.fj

 

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