LOTIC Bige Limited is a fully owned subsidiary of Lower Ok Tedi Investment Company Limited
Lower Ok Tedi Investment Company Chairman and Board of Directors are the Chairman and Board of Directors of LOTIC Bige Limited
Lower Ok Tedi Investment Company Limited Board of Directors are formed by 3 leaders each from Yoggom Tribe and Awin Tribe and one independent Director making the board 7 members evenly representing communities from both side of the Alice River
Lower Ok Tedi Investment Company Limited Board of Directors have being in the Board for last 20 years of its operation
LBL conduct quarterly board meetings for Management to brief the LOTIC and LBL Board of Directors the progress and accounts of LBL and for the Board to take board decisions
LOTIC conduct quarterly board meeting in conjunction with LBL Board meetings to evaluate LBL quarterly performance and LOTIC Board to take required supportive decisions for LBL to progress
OTML Economic Programmes and Operation Management participate in all quarterly board meetings and AGM of LOTIC and LBL as observers to monitor that LOTIC and LBL keep to the compliances and safeguard its shareholders interest who are the community
Lower Ok Tedi Investment Company Limited remains as the investment company with up to date compliances whilst LOTIC Bige Limited operates as the management company of all operations of LOTIC.
Lower Ok Tedi Investment Company Limited in 1996 when it was established raised its capital of K.1,432,209 through contributions received from nearly 1500 people contributing small amounts of K2 etc. amounting to K.350,832 and K.1,081,377 received from Alice River Trust Fund.
K.350, 832 received from nearly 1500 people were recognised through leaders as per the then companies act not allowing more than 50 shareholders. Presently we are in process of identifying individual share holders and issuing them share certificates with the support and advise of the leaders
Alice River Trust Fund Contribution of K.1,081,377 came through it’s allocation to the Alice River Trust 15 Villages. This contribution is held by the 15 village business groups from the 15 Alice River Villages. This 15 village business groups are manage by LBL for the business groups to comply and serve the village community tranparently.
The Board of Directors are presently having monthly meetings with the Business Group Chairman's and ARTF Village planning committee chairman's representing the Communities.
The Board of Directors recently completed a full awareness programme in all the Village share holders are located.
The present share holders in the IPA registry has given its blessings for the present Board of Directors to move forward in updating the share registry and have a share sale for western province locals to raise capital.
Village Business Group Chairman’s who are elected by the Village community represent the shareholders in the community in LOTIC shareholder meetings
Lower Ok Tedi Investment Company Limited Board of Directors succession plan is electing of Directors by Village Business Group Chairman's who represent the shareholders of the community at AGM
LOTIC and LBL CEO and General Manager Succession plans are locals who are qualified and committed put to understudy under each Depart Managers. They are periodically evaluated by the board of Directors of LOTIC/ LBL with recommendation and consultation from the present Senior Management. As per their performance their responsibility is gradually increased until they are compatible to takeover.
Due to its diversified operation with many JV companies and agencies under its Management LOTIC Bige Limited is presently identified as LBL Holdings Limited.