All trading in Fijian Holdings Limited shares is suspended until further notice.
South Pacific Stock Exchange chief executive Jinita Prasad said the suspension comes in light of continuous delays by FHL in addressing queries raised by SPSE relating to FHL's recent corporate governance audit report.
Prasad said shareholders are entitled to all information regarding FHL's recent decisions.
The suspension will be lifted as soon as FHL addresses the queries raised by the exchange to the board's satisfaction and fully complies with the continuing listing requirements of the SPSE listing rules.
Earlier this month, FHL CEO Sereana Qoro and chairman Isoa Kaloumaira were asked to step aside to allow for a corporate governance audit to be conducted, only to be reinstated hours later after the audit was complete and a report was handed to the Prime Minister’s Office.
FHL also signed a memorandum of understanding earlier this month to fund the construction of the new police headquarters in Suva at a value of $20million to be paid over 20 years.
And just last Friday, FHL announced that the deal to purchase BP South West Pacific has been terminated as it failed to secure the $190million needed for the acquisition.
FHL CEO Sereana Qoro and chairman Isoa Kaloumaira are yet to comment on the suspension.
