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April 23, 2021
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TISA Group CEO; Understand TISA’s Position As A Shareholder

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TISA Group CEO, Michael Koisen is adamant, Chairman of Credit Corporation should resign from the post.

He reiterated the call after the Company held its Annual General Meeting online recently.

Mr. Koisen believes as the 3rd largest shareholder in Credit Corp, more could have been achieved and issues better addressed in a physical AGM instead of a virtual format.

The call by TISA Group CEO for the removal of the current Credit Corp Chairman was countered with the response from the board of Credit Corp who clarified that it is the prerogative of the Board to appoint the chair and only 3 percent voted against Yates re-election.

Stating that contrary to Koisen’s claims, the virtual AGM format provided a significantly enhanced opportunity for shareholders who complimented the conduct of the AGM.

However, in today’s media conference, Koisen said despite COVID – 19 and the restrictions, other PNG companies and organizations have held physical meetings taking into consideration the prevention protocols.

Pointing out on shareholder issues and concerns that Koisen believes could have been better addressed if the AGM was held physically whilst also observing COVID-19 prevention protocols.

Highlighting Credit Corp’s financial performance and why dividends were being filtered through Credit Corp.

Giving credit where it is due, Koisen believes it is time Papua New Guineans move into substantive roles of leadership and recommends fairly that there potential candidates sitting on the board, more capable to take over helms of companies like Credit Corp.

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