SPO paid to NPF Seventy Million in dividend for 2018 FY

South Pacific Oil Limited held its AGM on Friday 1st March 2019 at NPF Board Room, NPF Building. During the meeting, the AGM declared dividend payment to be paid to SPO lone shareholder SINPF and its members. In a short ceremony in packed room of media representatives and staff of SPO and NPF executive, Mr. Gideon Zoleveke declared “With such good results, on behalf of the Board of South Pacific Oil, it is my pleasure to declare a dividend of $70,000,000 for the 2018 financial year”.

In receiving the dividend on behalf of the SINPF Board, Deputy Chairman Dr. Aaron Oritaimae, is pleased and happy to receive a dividend of $70,000,000 (Seventy million dollars) for the financial year ended 31 December 2018, for NPF members’ 100% shareholding in SPO.

In his speech Dr Aaron “I now on behalf of the Shareholder, the SINPF Board and members of the Fund, greatly appreciate and want to thank the Board, and in particular the management and staff of the SPO for achieving another exceptional year of operational and financial performance. Thus resulting in a $70 million dividend being declared today for payment to the Fund and its members.  Simply put, this is a tremendous achievement by SPO Board, Management and Staff.”