vendor finance option

Hela Pipeline group agree to vendor finance

Chief of Nali Clan, George Nali, said this on behalf of his people when agreeing to exercise the vendor finance  option to acquire shares in Kroton No 2 Limited.

In a media statement from KPHL, Nali commended the Government for reducing the option price bought per percentage from $US240 million to

$US150 million and that the vendor finance option a generous offer to landowners to exercise the option without paying any fees.

More beneficiary groups exercise option

The beneficiary groups are from PNG LNG Plant site, PNG LNG Pipeline, PDL 9 – Juha, PDL 4 – Gobe, and the Fly River Provincial Government.

The beneficiary groups will sign the agreement with Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk, in Port Moresby

Sonk announced this week (Tuesday) that the five beneficiary groups expressed interest to sign the agreements for the share transfer documents as well as the vendor note