Stock Exchange

Forests trading suspended on stock exchange

Trading of Future Forests (Fiji) Limited (FFF) shares have been put on hold on the South Pacific Stock Exchange (SPSE), following a request from FFF for voluntary suspension. The SPSE had approved a request for a voluntary suspension of trading made by FFF.  The trading suspension of FFF shares and notes would be in effect until the company releases its audited financial statements to […]

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October 2, 2015 12:48 pm

Trading of Future Forests (Fiji) Limited (FFF) shares have been put on hold on the South Pacific Stock Exchange (SPSE), following a request from FFF for voluntary suspension.

The SPSE had approved a request for a voluntary suspension of trading made by FFF.  The trading suspension of FFF shares and notes would be in effect until the company releases its audited financial statements to the market.

SPSE Chief Executive Officer, Ms. Latileta Qoro said,

According to Section 7.6 of the SPSE Listing Rules, a listed company may seek and the Exchange shall approve a voluntary suspension in trading of securities where the company feels that this approach is required to protect the interest of its shareholders and/or to maintain an orderly market.

In light of FFF’s recent announcement regarding the approved deferral in the market release date for its audited financial statements, the Exchange agrees that FFF’s request is prudent and required particularly in avoiding any trading in the company’s shares and notes that are based solely on speculation.

As per the company’s announcement on 1 October 2015, the FFF Board is committed to releasing the audited
financial statements on Monday, 5 October 2015. The company has faced certain delays in finalising its plantation
valuation and the audit for the 30 June 2015 financial year and is actively working to have its audited results finalised and announced on Monday, 5 October 2015.

Stock brokers will not be able to execute FFF orders until the voluntary suspension is lifted.

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