Prime Minister Peter O’Neill said the National Executive Council (NEC) has approved a discounted Option Exercise Price, which will enable beneficiaries to raise the finance to buy shares.
Through this they can reap the returns they could expect through dividends from their shareholding in Kroton, the company overseeing the State’s interest in the PNG LNG project.
“The original Option was granted under the terms of an agreement that was reached between landowners, provincial governments and the National Government in 2009,” PM O’Neill stated.