Kina Securities extends voluntary escrow arrangements

Kina Securities Ltd has extended the escrow arrangements relating to 32,758,650 ordinary shares in the Company held by Fu Shan Investment Limited (Escrowed Shares) until 12 August 2016.

In a statement from the Port Moresby Stock Exchange, the two week extension has been provided to enable renewed escrow arrangements to be put in place with Fu Shan to accommodate Bank of PNG regulatory requirements.

The Escrowed Shares represent approximately 20% of Kina's issued capital.

A voluntary escrow was entered into by Fu Shan for a period of 12 months from the date of the Company's admission to ASX and POMSoX.

Those arrangements were described in section 9.12.6.1 of the Prospectus and in the pre-quotation disclosure released on 29 July 2015.

The escrow has been extended on the same terms.

Kina will provide further disclosure once renewed escrow arrangements have been finalized.

Author: 
Freddy Mou