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