JKH says to go ahead with share repurchase offer
John Keells Holdings PLC (JKH) said on Wednesday that there was no change in the decision to go ahead with the group‘s share repurchase offer.
Responding to possible concerns by investors given that the JKH share price has fallen sharply in recent weeks, the company said in a statement that “…there is no change to the decision of the Board of John Keells Holdings PLC with respect to the terms of the share repurchase. The offer period of the share repurchase will be, as announced previously, from 4 November 2008 to 18 November 2008.”
The share repurchase price is Rs 90 while the stock on Wednesday, at the close of trading at the Colombo Stock Exchange, was Rs 65.25 per share.