Ningerum Holdings Limited

Ningerum Holdings Limited Ningerum Holdings Limited is the parent company of the Ningerum Group of Companies.

On behalf of the National Shareholders of the Ningerum Group of Companies we wish to congratulate and commend the Office...
22/06/2022

On behalf of the National Shareholders of the Ningerum Group of Companies we wish to congratulate and commend the Officers of the Internal Revenue Commission and the National Fraud Division of the RPNGC for their successful prosecution of this matter through the Committal Magistrate's Court for Trial in the National Court.

20/09/2019

50th Annual General Meeting
Ningerum Holdings Limited.

Special Explanatory Note to the Directors Recommendation No. 1.

Your Directors recommend that a dividend of 20 toea per share
shall be paid on 1st December, 2019.

Your Directors have reluctantly decided to reduce this years Dividend to from last years 30 toea per share to 20 toea per share for this reason:

Various Departments of both the National Government and our Fly River Provincial Government and former Members of Parliament have not, for a number of years, paid our Company for the services, principally Accommodation and vehicle hire, which it has provided to them. The outstanding debts at this time exceed One Million Kina (K1,000,000.00). Most of these debts have been inherited by the current Provincial Administrator, Mr. Robert Alphonse Kayun, but not incurred by him.

Some years ago our Company was forced to commence legal action in the National Court in an attempt to enforce payment. Then a newly appointed Administrator promised to pay all outstanding debts without further delay, our Company discontinued that legal action. Unfortunately that Administrator could not, or would not honour his promise. Since that time, each successive Administrator has promised to do so, but has not done so. Since that time, acting in good faith, and because at that time ours was the main Guest House in Kiunga, our Company has continued to provide services to these defaulting departments and their outstanding debts continue to grow.

Because of these outstanding debts of over One Million Kina, our company does not have sufficient cash reserves from which to pay a Dividend of 30 toea per share in 2019 and therefore has been forced to reduce it to 20 toea per share. However your Directors have resolved that should these outstanding debts be now paid we will declare a supplementary Dividend of 10 toea per share to be paid to shareholders as early as possible in 2020.


Warren Dutton
Company Secretary

20/09/2019

50th Annual General Meeting Ningerum Holdings. Ltd.

Explanatory Notes to the Notice of Meeting for the Annual General Meeting
to be held on Saturday, 28th September, 2019.
at Kiunga Vocational School Mess Hall, Kiunga, Western Province.

ADVICE TO SHARE HOLDERS WHO WISH TO ATTEND THE ANNUAL GENERAL MEETING

Registration of Shareholders attending the meeting.: Will start at 8.00 a.m.

Meeting Commencement: The Meeting will start at exactly 10.00 am

Attendance at the Meeting

The Meeting will be open only to Shareholders of Ningerum Holdings Limited. All shareholders attending the meeting are asked to bring their share certificate with them, so that they can be properly registered for the purpose of being admitted to and of speaking and voting at the meeting. If you wish another person to represent you at the Meeting you must appoint him by filling in the Proxy Form on the other side the Notice of Meeting with your name as shareholder and his name as your proxy. You must also give this person your share certificate to bring with the signed proxy form to the meeting to confirm that he is your representative.

Review and Acceptance of 2017 Financial Statements together with the Directors’ Report, the Secretary’s Declaration and Statement by Directors.:
Your Directors recommend that a dividend of 20 toea per share shall be paid on 1st December, 2019.

Resolution for the Confirmation of Issue Price for New Shares.

Your Directors recommend that, as a result of the valuation of the assets of the company by the company’s accountants and auditors, the Issue Price of new Shares shall remain K4.00 per share

Reappointment of Michael Mayberry Accountants as auditors for the 2019 financial year.

Your Directors recommend that DFK Hill Mayberry Accountants be re-appointed as auditors for the 2018 financial year.

Election of Two Directors

The currently approved number of Directors is six (6). S35A of the Constitution provides that one third of the Directors will retire each year, and that the directors to retire each year shall be those most senior in service since their last appointment. The Directors, who are most senior in service since their last appointment and will who therefore retire at the Annual General Meeting, are Mr. Warren Dutton, who being eligible, will stand for re-election, and Mr. Tony Swo’o, who has decided to retire.

Your Directors recommend that Mrs Ephemia Apenai be elected a Director to replace Mr. Tony Swo’o.


Warren Dutton
Company Secretary

20/09/2019

Notice of 50th Annual General Meeting Ningerum Holdings Ltd.

NOTICE IS HEREBY GIVEN that the Annual General Meeting of members of NINGERUM HOLDINGS LIMITED will be held at Kiunga Vocational School Mess Hall, Kiunga, Western Province, Papua New Guinea, on Saturday, 28th September, 2019 at 10.00 a.m.

The Meeting will be open only to Members of Ningerum Holdings Limited, and Members will be asked to present their share certificates in order to be admitted to the meeting.

Registration of shareholders will commence at 8.00 a.m.

Ordinary Business
1. Review and Acceptance of 2018 Financial Statements.
Your Directors recommend that a net dividend of 20 toea per share shall be paid to Members in December, 2019.
2. Resolution for the Confirmation of Issue Price of New Shares.
Your Directors recommend that, as a result of the valuation of the assets of the company by the company’s accountants and auditors, the Issue Price of New Shares shall remain K4.00 per share.
3. Appointment of Auditors
Your Directors recommend that DFK Hill Mayberry Accountants be re-appointed as auditors for the 2019 financial year.
4. Election of Two Directors.
In accordance with S35A of the Constitution, Mr. Warren Dutton, OBE retires and being eligible seeks re-election.
In accordance with S35A of the Constitution, Mr. Tony Swo’o retires and he does not seek re-election.
In accordance with S35A of the Constitution, your Directors recommend that Mrs Ephemia Apenai be elected a Director to replace Mr. Mr. Tony Swo’o.
Proxies

Please note that:

(a) a member of the Company entitled to attend and vote at the Annual General Meeting is entitled to appoint no more than one proxy; a proxy need not be a member;
(b) if a member appoints a proxy only that proxy shall be entitled to vote on a show of hands;
(c) a proxy form must be signed by the member and must be presented together with the member’s Share Certificate at Kiunga Vocational School Mess Hall, Kiunga, Western Province, in order to be admitted to the meeting.

DATED this 4th September, 2019
By Order of the Board


Warren Dutton
Company Secretary

Address

Main Street
Kiunga
335

Telephone

+6756491188

Website

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