Marshall Islands National Telecommunications Authority
Marshall Islands National Telecommunications Authority is a private corporation with significant ownership by the National Government. It is the authorized sole provider of telecommunications services and is responsible for providing domestic and international voice, fax, data, and Internet services to and from the Marshall Islands. The company responds quickly to diverse customer needs for efficient, reliable products and services. It provides an ever-increasing number of superior quality and affordable services to expand communications choices by applying the latest technological advances in the most economical way.
The Marshall Islands National Telecommunications Authority (NTA) was initially established by law in 1987. At that time, NTA was solely government owned. However, Public Law 1990-105 replaced the 1987 law and mandated that NTA become a private company as soon as possible. NTA completed its privatization process in November 1991, and the initial offering of stock began on December 2, 1991. This process has continued over the past thirteen years and NTA has been recognized as a registered private corporation in the Marshall Islands.
On December 31, 2002, the number of shares issued, out of 360,000 total shares available were 275,382 (208,075 government and 67,307 private). The total number of non-government shareholders is 604. The initial share offering expired on November 30, 1996. NTA has been able to pay a dividend to its shareholders in eight of the past twelve years. The last dividend paid was for $0.60 per share in January 2003. Amendments to the NTA Act of 1990 were approved by the Nitijela in October 2001 and in February 2002, which removed some of the previous ownership restrictions, increased the Government’s ownership in NTA, and allowed for more flexibility in the investment of excess funds. Because of these amendments, we prepared a revised prospectus and began selling shares once again in July 2002.See more