Serendib Hotel PLC announce to the Colombo Stock Exchange, that the Director of Serendib Hotel PLC have resolve to recommend  to the shareholders of the company to Rights issues of its Ordinary Voting shares and Ordinary Non-Voting shares at the Proportion of 4:1 at the Price of Rs.24.50 per Ordinary Voting share and Rs.18.25 per Ordinary Non-Voting share.

Type of shareNo of SharesRightsPriceTotal Funds
Ordinary Voting shares60,411,790    15,102,94824.50   370,022,226.00
Ordinary Non-Voting shares28,808,845       7,202,21118.25   131,440,350.75
Total fund rise from Rights      501,462,576.75


The Objective of the rights issue is to be rise funds to refurbish and reposition hotel Serendib as a “design Hotel”. The project estimated cost of Rs.650 Million. The funds of Rs.501.0 Million expected to rise from Right issue and balance funded through debt.

The above Rights issues are subjective to the Stock Exchange Approvals and the shareholders approvals at general meeting.


2 Comments for this entry

  • k a s jayakody says:

    We have property and building, a walauuwa, mansion of highly antique nature. Wish to lease for a long term basis for tourism activity.
    This is situated close to Colombo but in village area, calm n quiet surroundings.
    Wish to meet n talk with directors.
    pls let us know your comments.

    • prasanna says:

      Dear K A S Jayakody,
      Srilanka is booming to the Tourism these days and there is a good demand for the Hotels and the support services, therefore there is good chance for you to start your own business or If you like to lease your land and building you can contact some hotels Corporation and BOI to collect the Hotel details.
      And made an appointment with Directors or the related Person do future needful.
      All the very best for your business

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