Fiji TV suspends trading
October 4, 2015 10:00 pm
Fiji Television Ltd has requested for voluntary suspension of trading on the South Pacific Stock Exchange.
An SPSE statement says this is to ensure that shareholders and the general public are fully aware of information relating to the status of Fiji TV, Sky Pacific and Media Nuigini Limited.
The suspension of trading has been effective from Friday.
The SPSE Listing Rules allows a company to apply for voluntary suspension to protect the interest of its shareholders/potential investors and to maintain an orderly market.
SPSE Chief Executive Latileta Qoro says the Exchange has been corresponding with FTV since the Sky Pacific sale was announced.
She adds information has been provided by FTV via market announcements, however, specific details – including how the sale of Sky Pacific is expected to impact Fiji TV’s financial forecast, shareholder value and strategic direction has yet to be provided to all shareholders.
Qoro also says the suspension of trading is warranted, especially amidst speculations in the market surrounding the sale of Sky Pacific to Digicel.