Stock exchange announcements:
View(s):Winding up
Metropolitan Resource Holdings said that its subsidiary Ceylon Tea Gardens Ltd would be wound up voluntarily in terms of section 319(1) (b) of the Companies Act No.7 of 2007. Metropolitan Resource Holdings has 99.9% shares in Ceylon Tea Gardens.
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Walltiles
Lanka Walltiles (LWL) said that it has purchased 23 per cent of the total shares of Ceytea Plantation Management Ltd comprising of 3,136,500 shares at a price of Rs 140.19 million. Further to this transaction, LWL now holds a total of 10,335,990 shares amounting to 75.99% of the total shares of Ceytea Plantation Management Ltd.
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Carsons
Carson Cumberbatch said that it has redeemed the final tranche of 5,500,000 Class ‘B’ Non-Voting Redeemable Cumulative Preference Shares (unlisted) held by DFCC Bank at Rs 10 per share on 30th June 2013.
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Ceremics
Lanka Ceramics said the Mandatory Offer made by Royal Ceramic expired on 28th June 2013 and that the acceptance of the offer for 1,217,610 Shares (approximately 4.171 per cent) has been received as at 4.30pm on 28th June 2013.
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Nation Lanka
Nation Lanka Finance says it has entered into preliminary discussions and has signed a MoU with the Nation Building Society Ltd (NBSL) to evaluate the viability of acquiring NBSL’s entire equity stake and its’ Group of Companies (NBSL Group). The NBSL Group primary functions as a building society under the purview of the Housing Ministry, engaged in providing housing loans to customers through its 11 branches island-wide. The NBSL Group with an asset base of more than Rs. 1 billion is a pioneer in the building society industry and the potential value accretion to the company through proposed acquisition, in terms of net additions to the company’s net assets, is estimated around Rs 500 million. The announcement said that this is expected to yield an immediate gain of around Rs 2 per share in the Company’s Net Assets per share Value. Nation Lanka Finance Net Asset per share as at 31st March was Rs 1.90.
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