In a press release made today, Fijian Holdings Limited announced that the Board of Directors have approved the reduction of the minimum FHL share purchase to 100 shares, for its first time buyers. Prior to this approval, all first time buyers of FHL shares initially had to acquire a minimum of 500 shares, which restricted participation to those individuals that could pay upward of approximately $1,481.15.
Based on the market share price for FHL, currently trading at $2.89 per share, first time shareholders will now be able to pay $296.25 (inclusive of associated fees) to acquire the minimum of100 shares compared to the previous requirement of $1,481.15 for the 500 shares. 

“Fijian Holdings was established to create an opportunity for iTaukei to be represented and to participate in business. This decision paves the way for more individual iTaukei to directly participate and own Fijian Holdings, to attend our annual general meetings on their own right, and receive a copy of our annual report, and indirectly learn about the business world” said Carl Ngamoki-Cameron, Chairman for the Group. 

All other requirements for ownership of FHL shares remain the same including the requirements encapsulated in the FHL Memorandum and Articles of Association.
 
In his remark, Nouzab Fareed, Acting Chief Executive Officer for the Group, said that “In remaining true to the core purpose of our establishment, investors will now find it more affordable to become a shareholder of FHL”. 

He further added that “This can also be viewed as an incentive to enable more iTaukei’s to be part of a successfully diversified investment company and in turn recognise the opportunities that we have to offer.” 

Fijian Holdings Limited is a public listed investment company and its shares are traded under a restricted board on the South Pacific Stock Exchange. A pre-requisite to becoming a shareholder of FHL is investor registration in the “Vola ni Kawa Bula” (VKB).


In addition, FHL has appointed Ms Elenoa Lalabalavu as the Investor Relations Officer, who will primarily be responsible for facilitating and maintaining timely and proper communication with our shareholders and also coordinate media relations.

END



Chairman – FHL Company Secretary
Dated July 19, 2011
For more information, please contact: Elenoa Lalabalavu - Investor Relations Officer
Phone: (679) 3305017/ 3305022
Email: elenoa.lalabalavu@fijianholdings.com.fj