EFL clarifies non-voting shares on offer
June 16, 2018 5:08 am
The Energy Fiji Limited has clarified that Fijians taking up non- voting shares on offer will not have to fork out money in any circumstances.
A parcel of one hundred and fifty shares is being offered to all non-subsidized EFL domestic account customers while a parcel of two hundred and fifty shares is being offered to all subsidized domestic customers.
Energy Fiji Limited’s Chief Executive Hasmukh Patel says there has been some misrepresentation to shares being offered.
“It means that that share has a value in terms of dollars and what it means is that you are now a shareholder in the company as i say you are now part of the company belongs to you and therefore should the company going forward make profits which we are making than when we declare dividends they will share the portion of those dividends. At no time will the shareholder because they are shareholder will have to fork out some money from their pocket and pay to EFL . The reverse is not true.”
More than 40 thousand Fijians have applied to take up the offer to register for free non-voting shares of EFL.
Meanwhile, EFL has partnered with the Central Share Registry Limited – a subsidiary of the South Pacific Stock Exchange who will now maintain the registry of EFL shareholders.