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100 more Fijians receive shares on EFL

June 23, 2018 7:17 pm

More Fijians from the Suva/Nausori corridor took advantage of the free non-voting Energy Fiji Limited shares which are earmarked to be listed on the South Pacific Stock Exchange from next year.

Around 100 subsidized and non-subsidized customers received their share certificates yesterday joining 50 other certified shareholders from last week.

Attorney General and Economy Minister – Aiyaz Sayed-Khaiyum says this is part and parcel of Fiji’s progress towards more renewable energy.

Sayed-Khaiyum is urging eligible Fijians who have yet to register to sign up for the free non-voting shares which have been kept in a trust.

“Some of it is been kept in a Trust because as you know, as I was saying to you earlier on, there are people every day getting connected to electricity so the moment they get connected to electricity as long as they’re a Fijian citizen, they’re a resident in Fiji, they will also get shares. So we hold those five percent for those people that will become account holders.”

New EFL shareholder Ledua Vakaloloma says given the EFL’s business sense, it was opportune to sign up for the free shares.

“FEA is a monopolized company in Fiji and judging by the history of the company, it has done very well in the past so therefore I would like to be part of the company and part of its success going forward.”

Around 40 thousand Fijians have registered for the EFL’s free non-voting shares which entitles share bundles of 150 and 250 lots.

The free shares are part of governments plan to divest 49 percent of its shares in EFL, five percent of which has been earmarked for domestic customers who are citizens and residents of Fiji