09th March 2011, Seylan Development PLC announces to Colombo Stock Exchange that the Board of Directors resolved to issue rights of 73,982,430 Shares at that the Price of Rs.11.00.

The company further announced the Rights Issued funds are utilizing to retire high cost of borrowings and increase working capital.

The Rights issue is subjective to the Exchange Approvals and the shareholders approvals in the General Meetings.

Source: http://www.cse.lk/cmt/upload_cse_announcements/31299668728_.pdf

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