27th June 2011, the Multi Finance Limited Announced to Colombo Stock Exchange, the Board of Directors Resolve convert the existing debt into voting ordinary shares in Pari passu at the price of Rs.30.00
Detail of Debt Conversion
|Loan amount to be converted:||Rs.185, 000,000.00|
|No of New Shares issued:||6,166,667|
|Name of the Party:||Entrust Limited|
|Current Stated Capital:||Rs.185, 990,196.00|
The Above Private Placement is subject to approvals of Central Bank of Sri Lanka Securities and Exchange Commission of Srilanka and Shareholder approval at a general meeting.