Future Forests of (Fiji) Limited’s Board of Directors has recommended that FFF raise new capital of $500,000 for the company via private placement, which would enable it to continue operating as a Going Concern and allow the company to bid for EU/SPC Reforest contracts and settle debts.
This was the first resolution passed at its extraordinary general meeting in Suva last Thursday.
Its second resolution was an unanimous show of hands to remain listed on the South Pacific Stock Exchange. This followed a proposal from its Board of Directors for the company’s shareholders to consider delisting FFF and remaining a public company or to continue being listed on the SPSE.
The meeting also saw Roderic Evers and Wilco Liebregts elected company directors. An experienced business consultant and manager, Mr Evers was a co-founding director of the FFF and has served as managing director.
Mr Liebregts is an experienced agriculture and rural development consultant and was a co-founding director and CEO of The Crab Company (Fiji) Limited, and currently manages its aquaculture expansion program.