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Template To Clear Confusion For SPSE Listed Companies

The South Pacific Stock Exchange (SPSE) launched the first Template for Standard Articles of Association for listed companies yesterday. The Template will clear any confusion that listed companies may have
07 Jul 2017 09:46
Template To Clear Confusion For SPSE Listed Companies
South Pacific Stock Exchange acting chief executive officer Krishika Narayan (right) and SPSE chairperson, Nur Bano Ali on 6 July, 2017. Photo: Monica Aguilar.

The South Pacific Stock Exchange (SPSE) launched the first Template for Standard Articles of Association for listed companies yesterday.

The Template will clear any confusion that listed companies may have regarding new requirements and new provisions under the 2015 Companies Act of Fiji.

Lateef and Lateef Lawyers consultant Sujatha Nair said the need for the document came after the introduction of the Companies Act 2015 which brought about the change in the legislation.

“There were a lot of new requirements and new provisions that were introduced and the listed companies were not sure how to deal with that,” said Ms Nair.

“The confusion led to a request for the SPSE to draft a uniform document that listed companies could use and apply the change to their company according to its needs.”

SPSE acting chief executive officer Krishika Narayan said SPSE started working on the Template last year.

The Template is in compliance with the Companies Act which also takes into account all the listing rules and international best practices. Listed companies were also provided with a year to date performance of the stock market and a number of development initiatives that SPSE is currently working on.

The launch took place at the Paradiso Ristorante with the 19 listed company representatives present.

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