A lot of activity still taking place at APNG. Apart from the announcement of a financial restructure, new aircraft type and the accident report released for the Madang crash, you have 3 Directors who have resigned in 8 months!
POMSOX ANNOUNCEMENT - 18 DECEMBER 2014 - RESIGNATION OF MICHAEL KOISEN AS A DIRECTOR
Airlines PNG advises that Mr Michael Koisen resigned as a Director by letter dated 16 December 2014. That resignation was accepted by the Board on 18 December 2014, and takes effect from 16 December 2014.
Mr Koisen was first been appointed as a Director on 28 July 2008. He has also served as Chairman of the Board Audit Risk and Compliance Committee.
The Board also wishes to thank Mr Koisen for his long and valuable service to the Company.
And,
POMSOX ANNOUNCEMENT - 23 DECEMBER 2014 - BUY-BACK AND CANCELLATION OF SHARES ISSUE OF SHARES AND OPTIONS – APPENDIX 3B
Airlines of Papua New Guinea Limited advises that:.
1. the buy-back of 120,000,000 shares in the Company from the Estate of the late Sir John Wild which was authorised under Resolution 1 made at the Special Meeting of Shareholders held on 18 December 2014 (the “Special Meeting”) has now been completed and those shares have been cancelled; and
2. the issues of shares and options to National Superannuation Fund, Mineral Resources Development Company Limited, Mineral Resources Ok Tedi No 2 Limited and Mineral Resources Star Mountains Limited as authorised under Resolution 2 made at the Special Meeting has also been completed, as set out in the attached Appendix 3B.