FIJI NEWS
September 07, 2012 12:00:00 AM
  Follow @ Twitter

Coca Cola Amatil (Fiji) Limited today purchased the 89.59 per cent shareholdings held by Foster’s Australia Limited in Fosters Group Pacific Limited (FGP).

The acquisition brings about a change in the substantial shareholder of FGP as well as the change of control of the company.

The transaction occurred by the way of special crossing of 9, 325, 000 shares at $11.65 per shares today so that the most recent trade price of FGP shares remained unchanged.

FAL now ceases to be a shareholder of FGP as the 9, 325, 000 shares traded reflects the total shareholding that was held by the company.

As part of the overall regulatory approval process, CCA Fiji Limited is now restricted by the Reserve Bank of Fiji (RBF) from acquiring any further shares in FGP without prior approval.

As a result, CCA has advised FGP that it does not currently intend to make any offer to the minority shareholders.

FGP is also restricted from delisting without approval from RBF.

SPSE has waived compliance which imposes a minimum shareholder spread requirement whereby a minimum of 20 percent  of the total issued shared must be owned by at least 50 members of the public.

FAL has been removed as the largest shareholders of FGP and has been replaced by CCA Fiji.

There are 20 shareholders of the securities of FGP.

The principal activities of FGP remains but senior management will be replaced by senior executive appointed by CCA Fiji.

By Ropate Valemei

Uptown


PREVIOUS STORY
PSC rejects Catholic delegation's submission
NEXT STORY
Fosters Group appoints new directors

Post a Comment
Bookmark and Share

 


Posted Comments
No comments, but you can post the first comment!
   





Has the free education scheme including free textbooks and busfare subsidy helped reduce costs incurred in your annual back-to-school shopping?
 Yes
 No


Poll Results: Current | Previous

Has the free education scheme including free textbooks and busfare subsidy helped reduce costs incurred in your annual back-to-school shopping?
Yes
 48%
No
 52%



More Polls
Press Esc to close this window
BUSINESS
Bovoro joins Fiji CareFormer Fiji Development Bank chief executive Tukana Bovoro is now a director of Fiji Care Limited.
SPORTS
Viriviri flies in as 7s squad is down to 18Vodafone Fiji 7s coach Ben Ryan will only have 18 players to select from for the Wellington and United 7s tournaments after an injury to Benito Masilevu ruling him out of rugby for some time.
WORLD
'Green'-tinted SUVs at Seoul Motor ShowGas-guzzling SUVs, eco-friendly electric cars and the odd brave attempt to marry the selling points of both are taking centre stage at the biennial Seoul Motor Show.
TECHNOLOGY
Vodafone Fiji, Tonga telco in allianceVodafone Fiji and Tonga Communications Corporation today signed a strategic partnership alliance that will allow the Tongan company to leverage off the experience of their Fijian counterparts.
ENTERTAINMENT
Prides group to watch in 2015Prides, a Glasgow based band of three, formed in 2013 out of the ashes of several local bands, is on UK’s 5 Ones To Watch lists for 2015.
HEALTH/FITNESS
Clean-up day to curb dengue outbreakFiji's Ministry of Health has declared a clean-up day next Thursday for residents in the central division as it ups the tempo against a dengue fever outbreak currently experienced in the country.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS