South Pacific Stock Exchange Chief Executive Officer Latileta Qoro has resigned from her position after a serious oversight in the Fijian Holdings Limited Special General Meeting earlier this month.
The stock exchange that oversaw the count of the new FHL Class A shareholders’ director election had announced a preliminary count at the special general meeting that said that Ulaiasi Taoi had the most votes however the stock exchange later confirmed after a recount that Yogesh Karan is the new FHL director.
South Pacific Stock Exchange Chairperson, Nur Bano Ali says they will inform all their stakeholders today.
The stock exchange board led by Ali says that they take full responsibility for the errors made by their CEO and management at the Special General Meeting in releasing the preliminary incorrect results.
In a press conference, the South Pacific Stock Exchange board said that the final results of the election of the Class A director confirmed Yogesh Karan as the new FHL director.
Karan got 2.8 million votes while Taoi got 1.9 million votes.
The board says that this is after three counts and validating all the votes cast to ensure full inclusion.
It says that the results announced at the FHL Special General Meeting were a preliminary count and should not have been released to the meeting.
The Stock Exchange has assured the public, potential investors and FHL shareholders that the board of the stock exchange has taken appropriate steps to ensure that this type of error will not be repeated in the future.
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