25th February 2011, the Board of Directors of the People Leasing Finance PLC announced to the Colombo Stock Exchange, the Board Resolve to recommend to the shareholders of the company rights of 1 new ordinary share for every 2 ordinary shares held by each exiting shareholders.
22,713,639 ordinary shares are issue as rights at the price consideration of Rs.25 each. The company feather says the purpose of the Rights is to be
- To be compliance with the capital adequacy of the Finance Companies act.
- To expand the Business activities of the company.
|Rights||: 1 new Ordinary share for 2 Ordinary share shares held|
|Price/ consideration||: Rs.25 each|
|Number rights||: 22,713,639 Ordinary shares|
|Current Stated capitals||: Rs.819, 938,823|