5th February 2013. Notice is hereby given that an extraordinary general meeting of the shareholders of Pacific Green Industries (Fiji) Limited (PGI) will be held at 11.00 am on 28th February 2013 at the Pacific Green complex, Queens Road, Malaqereqere, Sigatoka to transact the following business:
To consider and make a decision on the offer received by PGI to sell its 70% shareholding in its Chinese subsidiary: Dongguan Golden Palmwood Furniture Pty Ltd (DGP) for FJ $2,500,000.
The PGI Board is recommending that PGI shareholders approve this offer based on the valuation carried out by SouthPac Advisory. The valuation of PGI’s 70% shareholding in its subsidiary company stands at FJ $2,243,000.
The proceeds from the sale of PGI shareholding in DGP will be distributed to all shareholders via dividends.
The offer and sale of PGI shareholding in DGP is subject to regulatory approvals in Fiji and China.
The PGI Fiji operations will continue as normal.
SPSE RELEASE