Fijian Holdings Limited (FHL) is expected to release a statement later today on the mass resignation of the company's board members in a meeting last Friday.

The new chairman of Fijian Holdings Limited, Robin Storck, has refused to make any comments on why the board members resigned. Storck only said that a statement will be released to the South Pacific Stock Exchange later today.

It is understood that Fijian Holdings chairman Joe Mar, managing director Sitiveni Weleilakeba, directors Tui Maleikai, Mohammed Asif Razak and Ioane Naiveli resigned following the company's board meeting on Friday.

Stork who remained on the board is the new chairman. Isoa Kaloumaira and Ulaiasi Baya also remain on the board while the military's acting chief of staff Colonel Mohammed Aziz, businessman Padam Lala and Basic Industries chief executive officer Sereana Qoro are the new board appointees.

Stay with us we will have more later today.