Nations Trust Bank PLC Announce to Convert Warrants 2011 as ordinary shares

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Nations Trust Bank PLC
Nations Trust Bank PLC

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1st March 2011, the Nations Trust Bank PLC announced to the Colombo Stock Exchange; that the Company calls upon the Warrant Holders to convert their warrant to ordinary shares on or before 4.00Pm on 10th March 2011.

The Conversion is exercise at the price of Rs.35.00 per Share. The new shares will be deposited into the CDS accounts and dispatching of the share certificate will be completed on 28th March 2011.

The company further says that the shareholders should consider that direct deposit by 30th March 2011, as per the listing rules.

Current valuation

Today Nations Trust Bank PLC ordinary shares are trading at the price of Rs.78.20 to Rs.78.50 each. And the Nations Trust Bank PLC warrants were traded last at Rs.46.20 each.

As per my view the Nations Trust Bank PLC warrants are overvalued by Rs.3.00 to Rs.4.00. but this will be good offer to for warrants and the ordinary shares.

Therefore this warrant conversion may profitable to the shareholders in future.

Source: http://www.cse.lk/cmt/uploadAnnounceFiles/171298977136_387.pdf


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