He said that Kina was concerned that the article, taken from The National newspaper, misrepresented the true nature of the re-domicile process that we have recently completed.
"While Kina Petroleum Ltd is no longer listed on POMSoX or the ASX, the new entity (Kina Petroleum Corporation, KPE) is. The purpose of the re-domicile is to position the group for future growth and to facilitate the fundraising necessary to further develop our assets in PNG.
"The process has been very transparent and we have made several announcements about the process as we progressed through the necessary steps to achieve the re-domicile.
"POMSoX, as well as ASX, ASIC and the PNG courts have all reviewed and approved the redomicile of Kina in the British Virgin Islands (BVI) and listing of the new BVI company, KPE, on the POMSoX and the ASX. Our shareholders also overwhelmingly approved the process, with the re-domicile and relisting proposal receiving the approval of 99.72% votes cast at the shareholder meeting.
"We intend to have a very long and fruitful involvement with PNG and POMSoX, with the successful re-domicile process being a part of our strategy for growth and development," Schroder said.