Category: New Guinea Islands Produce Limited
New Guinea Islands Produce Limited
NGIP AGMARK Appendix 4B for Year ended 31 December 2020
NGP: Appendix 4B – 2020 Half Year Results
Update: NGP AGM for Financial Year 2019
NGIP Agmark Limited held their 48th Annual General Meeting on Friday 11th of September 2020, Presenting the Financial Results for 2019 as well as the goals, achievements and challenges for that year.
The Board decided to present the AGM via virtual meeting platform provided by our share registrar Link Market Services Limited. The board thought that due to the current COVID-19 pandemic, it was necessary to take precautionary procedures to encourage online attendance.
Thank you all who attended this meeting and please find attached the slides presented online as well as the Results of the meeting.
If you have any enquiries, please send through enquiries@agmark.com.pg
Announcement: NGIP Agmark Limited 2019 Results & 48th AGM
The NGIP Agmark Ltd Annual General Meeting (AGM) is Scheduled for Friday 11th of September and will present the Annual Report for 2019.
The 2019 Annual Report and AGM has been delayed due to the events the COVID-19 global pandemic and the restrictions imposed under the State of Emergency. And as we operate through the “New Norm”, NGP Board has elected to use an online technology for the presentation of the 48th Annual General Meeting.
Please find below links to:
NGIP AGMARK LIMITED ANNOUNCEMENT
200520 – NGIP Announcement – PNGSOX
With great sorrow, NGIP Agmark Limited wish to share the sad news that their loved and respected Managing Director, John Nightingale, died of cancer on May 19th, aged 73.
John was the pioneer Independent Cocoa Trader who took the PNG Cocoa export monopoly away from colonial plantation companies when he established Agmark Pacific Limited in 1988. Agmark rapidly became PNG’s largest Cocoa exporter. John and Agmark single- handedly catapulted the prices offered to farmers upwards to reach over 80% of European market price, a level that has been world best practice ever since.
His company, Agmark Pacific Limited later merged with the New Guinea Island Produce company to become the NGIP Agmark group and later NGIP Agmark Limited.
NGIP Agmark Limited today continues to be a key participant in the cocoa export industry. Other NGIP Agmark businesses include:
- Coffee Exporting (Niugini, Coffee, Tea & Spice)
- Customs, Stevedoring & Freight Transport (Rabtrans)
- Rugby League Franchise owners (Agmark Gurias)
- Agriculture Supplies (Agmark Didiman)
- Shipping (Agmark Shipping)
- Engineering & Steel Fabrication (Rabweld)
- Heavy Equipment and Machinery (Agmark Machinery) &
- Property Development
On 20th November 2019, NGIP Agmark Limited advised on the PNG Stock Exchange that John was going on extended medical leave. Another director, Steven Nightingale, was appointed Chief Operating Officer (COO) by the board.
The board of directors have full confidence in Steven Nightingale and his management team’s ability to continue NGIP Agmark’s trading activities well into the future.
NGP – NGIP AGMARK LTD CORPORATE UPDATE
Company Announcement – FORM 4B EOFY 2019
See below for FORM 4B
Appendix 4B – NGIP Agmark Ltd 2019
Results to be finalised prior to AGM in June 2020.
NGIP AGMARK LIMITED ANNOUNCES JOHN NIGHTINGALE IS ON EXTENDED MEDICAL LEAVE & STEVEN NIGHTINGALE IS APPOINTED AS CHIEF OPERATING OFFICER
As of 16th November 2019, Managing Director John Nightingale is on extended medical leave until February 2020. John is ill and has been hospitalized and having treatment in Australia.
Steven Nightingale has been appointed as Chief Operating Officer (COO) by the NGIP Agmark Ltd Board and he takes up the role today. Mr Steven Nightingale has comprehensive knowledge of the company, as well as experience as General Manager in Rabtrans, Agmark Shipping and recently serving as a director on the board.
The COO role has inherited all responsibilities and authority encompassed from the role of Managing Director.
Please direct all queries to Mr Steven Nightingale from today.
Please see attachement for more details.
NGIP Agmark Limited – Appendix 4B Half Year Report – 30 June 2019
The focus of 2018 was to have:
- A balanced workforce with leaner back office support structures and a strengthening front-end sales force that is ready to capitalize on the opportunities that will arise as demand improves
- A motivation to reduce debt in the balance sheet with aim to generate long term savings
- An ongoing focus on cost control
- Proactive strategies in place to improve business performance
- Reduce debt in the balance sheet by selling assets to offset our loan to the banks to generate favourable savings in annual interest payments to the bank.
These focuses and plans resulted in driving 2019 admin costs down by K308k against 2018 year to date.
In regards to cocoa, it is becoming prominent there is a decrease in cocoa production in all parts of Papua New Guinea due to weather, which may also have an affect on the quality of the bean. What we have discovered that the conversion rate of wet bean to dry bean has reduced from 33% to 27%. Meaning that instead of 100kg of wet bean producing 33kg of dry bean, we are now producing 27kg of dry bean. An 18% decrease in quantity.
Download FORM 4B document below: