About Sub Division of 10:1
Today 18th February 2011. The Malwatte Valley Plantations PLC announced to Colombo Stock Exchange that the Board of Directors passed resolution on 15th February 2011decided to recommend to the shareholders the sub-division of both ordinary voting and ordinary nonvoting shares in the proportion of the 10 shares per every 1 share held.
The share proposition will be remaining unchanged cause of subdivision, and the stated capital of the company will be remaining unchanged.
The above subdivision is subjective to shareholders approvals at an Extraordinary General Meeting.
About the Malwatte Valley Plantations PLC
The company established on 1992 and quoted in CSE in 2000. The Malwatte Valley Plantations PLC is in the business of cultivation, processing and sale of tea, Rubber and timber.
Today the Malwatte Valley Plantations PLC share price range of Rs.92.00 to Rs.109.00. if the subdivision is implementing, the share price will be Rs.9.20 to Rs.10.90, with effective.
The Subdivision of the shares will help the Malwatte Valley Plantations PLC to effective share trading in CSE, the helps to reduce the manipulations of share prices.