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Province to share $1.9m

Repeka Nasiko
Monday, August 18, 2014

THE Ba Provincial Holdings Company Ltd has requested the 596 shareholders in the Ba Province to come forward and receive share certificates worth about $1.9million.

Company Commercial and Business Services manager Jese Saukuru said they had started distributing the shares from late 2013.

"In 2010, there was a resolution in our AGM that we needed to restructure the company," he said.

"It has been restructured with two categories of shareholders — the Class A and the Class B.

"Class A shareholders will take over the shares that were owned by the Ba Provincial Council which was worth about $1.9m.

"What we've done is we've gone back to the Native Lands Commission (Veitarogi Vakavanua) to check the total number of landowning units that we have here in the Ba Province.

"We've confirmed that there are 593 landowning units, some of us own land through our tokatoka and some of us own land through the mataqali.

"Together with that we have the Soqosoqo Vakamarama, we have the Soqosoqo ni Tabagone and the Matabose ni Momo to make up the shareholders so really in total we have 596 shareholders who are now in Class A and they will share that $1.908m."

He said by dividing the $1.9m among the shareholders, each group would receive $3202.

"From late last year to date, we are still distributing share certificates to the landowning units within the Ba Province.

"When you talk about the Ba Province, you are talking about 21 tikina.

"From the far reaching areas of Savatu in Nadarivatu to Bukuya, right up to Rukuruku and on the border there are two villages (Rararua and Dreke) which belong to the Ba Province that are located in the Sigatoka Valley.

"Then we have the five tikina in the Yasawa Group, that's Nacula, Naviti, Yasawa, Waya and Viwa.

"In total we have about 107 villages."

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