Growers want share after takeover

 A GROUP of oil palm growers in West New Britain wants 5 per cent equity in New Britain Palm Oil Ltd (NBPOL) after Sime Darby takes over.

Hoskins Oil Palm Growers Association (HOPGA) have stated that they want 

the landowners and local level government of West New Britain to be offered 5 

per cent of the shares while the West New Britain provincial government be given 19 per cent.

Chairman Patrick Reu said this would allow for a total national equity of 49 per cent from the NBPOL shares. 

Reu said that the association was aware that the provincial government had only 8 per cent equity from a previous 15 per cent shares in NBPOL.

However he said they were disappointed that the recent floating of the 

provincial governments’ shares only fetched K81 million in the London stock exchange.

He said the provincial government’s “reinvestment has not been well planned, that our 243,000 West New Britain people can see tangible developments from its hard earned investments”. 

Reu however said HOPGA welcomed Sime Darby as the new developer. 

“The Hoskins Oil Palm Growers Association me Darby of Malaysia will 

eventually own and operate NBPOL,” he said.

“We appreciate the fact that these changes will not affect the normal efficient management and operations of NBPOL as of March 2015 and we extend our welcome” he said.

The offer date by Sime Darby for all NBPOL shareholders to deliberate on their shares would end on Feb 23.