Ceylon Cold Stores PLC (Elephant House) Rights issue and Share Sub Division

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Ceylon Cold Stores PLC (Elephant House)
Ceylon Cold Stores PLC (Elephant House)

9th May 2011, the Ceylon Cold Stores PLC (Elephant House) announced rights issue and share sub Dividend.

Rights Issue

The Board of Directors resolved the rights issue of 1 new share to be offered, for every 10 Ordinary shares at the Price of Rs.300.00 per Share.

Share type No of Shares Total Value
Ordinary Shares             21,600,000 LKR 270,200,000
Rights issue               2,160,000 LKR 648,000,000
Total Number shares             23,760,000 LKR 918,200,000
Amount Rise from the right issues LKR 648,000,000  

 

The purpose of Rights

The rights fund will be infuse equity to Jaykay Marketing Service (Private) Limited (JMSL) and Contribute to the Capital Expenditure plans of CCS.

Share Sub Division

The Subdivision is after the conclusion of the above rights issue. The sub division in the proportion of 4 Ordinary shares for every share held.

No of shares prior to Sub Division 23,760,000
No of shares after Sub Division    95,040,000

 The right issue and the share sub division will be subject to shareholders approvals and Approval of the Colombo Stock Exchange.

Source: http://www.cse.lk/cmt/upload_cse_announcements/4591304940274_.pdf


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