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Pacific Lime and Cement Limited (ASX:PLA)

ALERT: Price-sensitive ASX Announcement for PLA
Current share price for PLA : $0.400 0.145 (56.86%)+
Announcement
Release
10 Dec 2025 9:27AM
Price at Release
$0.255
Full Release
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Summary
Pacific Lime and Cement Limited (PLC) has signed a landmark Project Development Agreement (PDA) with the PNG Government for the Central Lime and Cement Project in Papua New Guinea. This agreement allows the PNG Government to acquire a significant stake in the project through two Special Purpose Vehicles (SPVs) and offers options for additional equity post-commissioning. The PDA, which is legally binding and enforceable under international arbitration mechanisms, provides the framework for fiscal incentives and ensures the protection of State and landowner equity interests. The project is designated as of National Significance, reflecting its importance to PNG's national interest. The agreement also stipulates governance, audit rights, and transparent reporting obligations to ensure compliance and progress.
Key Points
  • Pacific Lime and Cement Limited (PLC) signed a Project Development Agreement (PDA) with the PNG Government.
  • The PDA involves the Central Lime and Cement Project in Papua New Guinea.
  • The PNG Government is entitled to a 13% stake in each of the project's Special Purpose Vehicles (SPVs) with an option for an additional 5% post-commissioning.
  • The PDA includes fiscal incentives under PNG’s Special Economic Zone (SEZ) Act, providing tax concessions.
  • The agreement protects State and landowner equity interests from dilution.
  • PLC is committed to providing a 2% free-carried equity stake in each SPV to local landowners.
  • The PDA requires open-book governance, audit rights, and transparent reporting.
  • The project is considered a development of National Significance under PNG law.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.