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Fareed, Qoro Explain Why The Suspension In FHL Shares

The South Pacific Stock Exchange (SPSE) after discussions had approved the request for voluntary suspension of trading made by Fijian Holdings Limited (FHL) for two (2) working days. Fijian Holdings
15 Feb 2017 12:16
Fareed, Qoro Explain Why The Suspension In FHL Shares
Fijian Holdings group chief executive, Nouzab Fareed

The South Pacific Stock Exchange (SPSE) after discussions had approved the request for voluntary suspension of trading made by Fijian Holdings Limited (FHL) for two (2) working days.

Fijian Holdings group chief executive, Nouzab Fareed said the suspension was only for two days in the best interest of the company.

“Until all the relevant information is disseminated to the public, the stakeholders and investors need to contact SPSE,” Mr Fareed said.

He added the suspension ensured that stakeholders and the investing public get enough time to understand the outcome of the FHL Special General Meeting (SGM) which was held earlier on the 9th of this month.

“This will also allow them to make relevant enquiries and obtain clarifications they may have from SPSE and licensed stock brokers prior to investing,” he said.

SPSE Chief Executive Officer, Ms. Latileta Qoro said, “During this period of trading suspension, the Exchange is available to meet with and address any queries that FHL shareholders and potential FHL investors may have.”

The voluntary suspension is made in accordance with Section 7.6 of the SPSE Listing Rules which allows for SPSE and a listed company to apply voluntary suspension in the trading of listed company shares where both parties agree that this mechanism is required to protect the interest of shareholders and to maintain an orderly market.

The suspension has been effective from Tuesday this week and will be lifted before the 10:30am trading session tomorrow.

Also, licensed broker representatives will not be able to execute FHL orders on the Electronic Trading Platform until the voluntary suspension is lifted.

Shareholders and Investors are encouraged by SPSE to contact their landline number on 3304130 or visit the SPSE office at Level 2, Provident Plaza 1, and 33 Ellery Street, Suva.

More details of the required information will be explained to interested individuals.

Feedback:  kathrin.krishna@fijisun.com.fj

 

 



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