Emagewise (Private) Ltd announced to Colombo Stoke Exchange (CSE) that it’s acquired 2, 009,140 Ordinary shares in Citrus Leisure PLC at a price of Rupees 86 per share on 11th January 2011.
As a result of acquisition, the offeror along with its subsidiaries and directors mentioned hold 14,826,010 shares of Citrus Leisure PLC, to the total of 31.42% of the voting shares.
Today’s Market reaction
Today 13th January 2011 the announcement made at 13.12. Even through the market reaction is not as expected on trading. But there is a slight variance of Rs.83.00 to Rs.91.00. the market indications show it decrease [11%] of share price from yesterday to today by Rs.10 cents [closing Prices].
But the capital gains are pretty reasonable for the investors as reaching all the time high Price of Rs97.00 in sooner.
In a real situation I don’t have any idea about the future of the company, but the Mandatory offer and the new management may boost the business.