Mandatory offer for Citrus Leisure PLC by Emagewise (Private) Ltd

Spread the love

About

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].

Citrus Leisure PLC
Citrus Leisure PLC

But the capital gains are pretty reasonable for the investors as reaching all the time high Price of Rs97.00 in sooner.

My view

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.

Source: http://www.cse.lk/cmt/upload_cse_announcements/8391294908401_.pdf


Spread the love

Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *