SPX suspends Fiji Television Ltd
April 25, 2021 4:40 am
Fiji Television Ltd has been suspended from trading on the South Pacific Stock Exchange since April 1st.
Acting SPX Chief Executive Pretesh Prasad says after Fiji TV recalled its financial accounts for 2018 and 2019, it had to be suspended to protect the interest of investors.
Prasad says the Stock Exchange has also notified the Fiji Institute of Accountants of this development as is required.
He adds until such time as Fiji TV is able to remedy its financial accounts and submits these to the SPX, it will remain suspended from trading.
In February SPX had placed the first suspension in trading of Fiji TV shares.
This was due to the company stating that its external auditor wished to recall and reissue the financial statements for the year ended 30th June 2020.
It also included a restatement of financial figures for years 2018 and 2019.
This comes after Fiji TV recently became embroiled in several internal matters, including three staff members being terminated.
One staff member was sentenced to three years imprisonment, while investigations continue on other matters.