Port Denarau Marina Limited (PDML) has secured conditional approval from the Fijian Competition and Consumer Commission (FCCC) for the proposed acquisition of its shares by Fijian Holdings Limited (FHL) and FHL Trustees Limited, acting as trustee for the Fijian Holdings Unit Trust (FHUT). This acquisition involves the purchase of shares from Skeggs Group Limited and hinges on several regulatory and shareholder approvals.
In a recent statement to the South Pacific Stock Exchange, PDML outlined that the FCCC’s approval is contingent upon FHL and PDML providing a formal commitment to the Commission. This undertaking aims to address any potential competition concerns and will take effect only once the acquisition is finalized and the FCCC accepts the commitment. PDML reassured stakeholders that this measure is in place to ensure the marina operates independently and maintains neutrality in its daily operations.
The transaction is still subject to several outstanding conditions, including obtaining approval from PDML’s shareholders in accordance with Part 22 of the Companies Act 2015 and securing the necessary endorsements from the relevant stock exchange, alongside meeting all conditions laid out in the sale agreement. Shareholder approval is set to be sought at a general meeting scheduled for January 13, 2026.
Moreover, PDML intends to pursue approval from the South Pacific Stock Exchange during the execution phase of the transaction through a negotiated agreement. The company emphasized that operations will continue as usual throughout this approval process. PDML has stated that the anticipated changes in major shareholding are not expected to disrupt its daily operations or affect its strategic objectives.
As a publicly listed entity on the South Pacific Stock Exchange, PDML is dedicated to keeping the market informed about significant developments concerning this acquisition. This commitment reflects the company’s focus on transparency and the importance of maintaining stakeholder confidence during this critical shift in its ownership structure. With these proactive measures, PDML aims to ensure that its operational integrity and business continuity are preserved, paving the way for a smooth transition in leadership.