EFL Registry > FAQ's

Questions and Answers for Energy Fiji Limited (EFL) Shareholders

Question Summary
What is Non-Voting Shares? Non-Voting Shares have the same rights as ordinary shares (including in relation to the payment of dividends) except as follows:
  • certain disposal restrictions, being the Initial Disposal Restrictions, apply initially to Non-Voting Shares;
  • a Non-Voting Share does not entitle its holder to vote at any General Meeting of Energy Fiji Limited except in specified circumstances; and
  • a Non-Voting Share does not entitle its holder to receive notices of General Meetings, reports, balance sheets and audited accounts or otherwise attend and be heard at General Meetings of Energy Fiji Limited.
What is the value of Non-Voting Shares? The value of Non-Voting Shares depends on the value of EFL and its future performance. The value of the Non-Voting Shares will become more readily accessible at the time of listing of the Non-Voting Shares on the SPSE. The parcel of 150 shares being offered to non-subsidised customers is estimated to be valued at $210 and the parcel of 250 shares being offered to subsidised customers is estimated to be valued at $350.
Selling of Non-Voting Shares Energy Fiji Limited intends to seek to be admitted to the official list of the SPSE and for the Non-Voting Shares to be quoted.  Once the Non-Voting Shares have been quoted on the SPSE and the Initial Disposal Restrictions have been lifted, Shareholders will be able to sell the securities on the SPSE. Once the Initial Disposal Restrictions relating to the particular Non-Voting Share are lifted, you will be able to sell shares on the SPSE in the same way that other shares quoted on the SPSE are sold.
How will dividends be paid? Subject to the requirements of the Companies Act and the Listing Rules of the SPSE and as determined by the Board of Energy Fiji Limited from time to time, it is expected that any dividends declared will be paid to the holders of Non-Voting Shares as follows:
  • for Shareholders with bank accounts the dividend will be deposited into their bank account.
  • for Shareholders who do not have a bank account the dividend will be credited against their electricity account.
Deceased Shareholder Refer to EFL for guidance and next steps.
Change in address or other information such as details on the Share Certificate As a Shareholder you will need to contact Central Share Registry Limited on number 3313764 or email address eflregistry@spse.com.fj
Subsidised and Non –Subsidised Customer A subsidised customer will get 250 shares and a non-subsidised customer will get 150 shares. A customer is subsidised one that meets the criteria under the electricity subsidy policy such as total household income is less than or equal to $30,000.
Can I transfer the shares to anyone else Not until it is listed on the Stock Exchange.
 

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