March by Finsch group over delayed payment deferred

By PISAI GUMAR
A PROPOSED protest march organised by the Finschhafen Marketing Development Corporation (FMDC), the second largest shareholders of Mainland Holdings Ltd, to petition their executives, has been postponed.
The protest will be organised after the committee members organising it verify all the reports presented to them by FMDC executives, spokesman Peter Seske said.
He said FMDC committee member Arox Taitai approached the organising committee and advised them verbally that in the directors meeting held in November 2011, there was no resolution to pay shareholder dividends.
However, Seske said during the meeting, among the 10 principal shareholders, eight board members agreed that the management pay their dividends for the past five years.
He said nothing favourable at had eventuated and people were frustrated over the management’s delay.
“They need to come out and explain to the people.
“But before the protest goes on, we will verify the reports on hand before people will be mobilised and protest to FMDC chicken farms at Gobari,” he said.   
Seske said that FMDC executives needed to rectify all their business operational reports and pay people their dividends.