Thursday, 28 August 2008 10:42 AM

Western Province to Retain Shares in Soltai

Western Province Premier Alex Lokopio revealed that his executive will ensure Western Province will continue to retain its 49 percent shares in the Soltai Fishing and Processing Company.

This was following allegations that the National Government was looking to decide on the fate of the company.

Mr Lokopio also stated that if the National Government wants to sell 51 percent of its shares, this matter would have to be decided by the Investment Corporation of Solomon Islands, ICSI, Board and the Soltai Board.

Investment Corporation of Solomon Islands (ICSI) is the institution that oversees the Government's portfolio companies.

According to Premier Lokopio, the Western Provincial Executive has agreed that the Province's 49 percent shares in Soltai is non negotiable.

The decision to retain the shares is also in line with the company's Memorandum and Article of Association and also within the company and shareholders interests.

Mr Lokopio also went on to thank his Executive for re-appointing him and Aquila Talasasa for another two year tern within the Soltai Board.

Soltai is currently one of the major players to Solomon Islands Exports.


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