Softlogic Holdings Limited Acquires Asian Alliance Insurance PLC

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Softlogic Holdings Limited IPO
Softlogic Holdings Limited IPO

Today 12th July 2011, the Softlogic Holdings Limited Board of Directors made announcement, that Softlogic Holdings acquire 73.53% of issued share capital of Asian Alliance Insurance PLC at the consideration of Rs.3, 308,929,920.00.

The same time Asia Capital PLC announce to CSE, the Board of Directors of Asia Capital PLC entered into a Shares sale/ Purchase Agreement to sell their total holding 53.16% of Asian Alliance Insurance PLC at the total consideration of Rs.2,392,513,920.00

No of shares

Price per Share

Total Consideration

19,937,616

LKR 120.00

LKR 2,392,513,920.00

 

Softlogic holding acquires proposition

No of shares

Price

Percentage

total consideration

share Acquiring Company

19,125,000

LKR 120.00

51%

LKR 2,295,000,000.00

Softlogic Capital Limited
8,449,416

LKR 120.00

22.53%

LKR 1,013,929,920.00

Softlogic Holdings Limited
27,574,416  

73.53%

LKR 3,308,929,920.00

 

 

Source: http://www.cse.lk/cmt/upload_cse_announcements/5111310443568_.pdf

http://www.cse.lk/cmt/upload_cse_announcements/301310442730_.pdf


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Comments

One response to “Softlogic Holdings Limited Acquires Asian Alliance Insurance PLC”

  1. sanath de silva Avatar
    sanath de silva

    In 2008 Indian tour was insured by me at ABC Insurance company .I was the General Manager (General Insurance )of that company.Mr ASOKA PATHIRAGE was in the interim committee of Sri Lanaka Cricket at that time.The insurance premium was USS 619,000/= and which was defaulted by Sri Lanka Cricket.this is like you eat from a boutique and dont pay.My management at ABC held me responsible unduly and sacked me in 11th December 2008 and I lost my carrier having well recognized seven pfofesional and academic qualifications.

    The insurance consultant for this project was Mr Ainsly Alles who was a former General Manager (General Insurance)of Asian Alliance

    It is ironical that Mr PATHIRAGE who I really respect keeping a blind eye on this .Now it is a good chance for him tounderstand the agony of premium defaulters and redress my position as I have 20 years of general insurance underwriting experience

    All the best For AAIC

    Please forward this to Mr Pathirage

    Sanath de Silva

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