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 typeNo of SharesTotal Value
Ordinary Shares            21,600,000LKR 270,200,000
Rights issue              2,160,000LKR 648,000,000
Total Number shares            23,760,000LKR 918,200,000
Amount Rise from the right issuesLKR 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 Division23,760,000
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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