Softlogic announces to the Colombo Stock Exchange that the Board of Directors of Softlogic Capital PLC has resolved to effect a reduction of the stated capital of the Company.

  • The reason for the reduction – To reduce the accumulated losses of the Company
  • The proposed amount of the reduction of stated capital – LKR 618,464,000.00
  • The current stated capital and the proposed stated capital subsequent to the reduction

Current stated capital – LKR 3,498,464,000.00

Proposed stated capital – LKR 2,880,000,000.00

  • The number of shares in issue would not change and accordingly the 688,160,000 ordinary shares already in issue would remain unchanged consequent to the reduction.
  • Reduction of the stated capital is subject to shareholder approval at a General Meeting by way of a Special Resolution.

An extract of the Board Resolution recommending a reduction of the stated capital of the Company is attached herewith. An Extraordinary General Meeting of the Company will be convened on the 6th day of March 2015 in this regard.

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