AluFab PLC Rights Issue and Private Placement

AluFab PLC
AluFab PLC

June 6, 2011 the AluFab PLC announce to Colombo Stock Exchange that the Board of Directors resolve to issue rights and made Private placement to correct the Negative Stated Capitals.

Rights Issue

The AluFab PLC makes rights issue of 2 new ordinary shares for every 1 share held.

  No of Share Rights Price Total Rights
Existing Shares:      4,019,400    
Rights issues:      8,038,800                    38    305,474,400.00
Total    12,058,200    


Private Placement

The Private Placement is where the converting the Existing Debt of the Director and Connected parties as given Blow.

  Amount of Debts Shares to be Issue @ Rs No of shares
Advance against Capital issues      
Mr. P J Claeeon     31,653,160                       38           832,978
Metro Incentives Inc       7,695,490                       38           202,513
Loans to Company      
Mr. P J Claeeon     15,495,425                       38           407,774
Fastighets AB Bremia     21,398,450                       38           563,117
Mr. T N Dole     10,777,485                       38           283,618
Total     87,020,010         2,290,000


The Percent Equity Capital as on 31st March 2011

Paid-up Capital and share Premium LKR 40,198,323.00
Revaluation Reserve LKR 15,234,456.00
Accumulated Loss LKR 104,757,890.00
Equity Capital (LKR 49,325,111.00)



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