Buys 17.5% more for Rs. 300 m at Rs. 14 per share to increase holding to 47.4%
Singapore’s Senior Marketing Systems Asia Pte Ltd., (SMS) yesterday triggered the SEC Takeovers and Mergers Code on eChannelling PLC at Rs. 14 per share.
This is following SMS buying 17.5% or 21.429 million shares at Rs. 14 each to increase its overall holding to 57.946 million shares or 47.4%. The major seller was British American Technologies which exited from eChannelling divesting 16 million shares.
The price paid by SMS yesterday was higher in comparison to Rs. 9 when it acquired a 15% stake in October last year, also from BAT of Ruwan Silva-fame who is also a Director of eChannelling.
SMS first acquired eChanneling shares in September last year at Rs. 8.50 each.
Other major shareholder of eChannelling is Trading Partners Ltd., holding 28%. It acquired the bulk of the stake at Rs. 10 per share in November 2013.
SMS also bought around 5 million shares from the market including around 3 million from a foreign shareholder.
As at 31.3.2013, eChannelling had 2,275 shareholders of which over 1,800 were holding between 1 to 10,000 shares each.
Net asset per share of eChannelling was Rs. 1.31. It finished FY14 with a profit of Rs. 52 million, down from Rs. 77 million in the previous year.
www.ft.lk
Singapore’s Senior Marketing Systems Asia Pte Ltd., (SMS) yesterday triggered the SEC Takeovers and Mergers Code on eChannelling PLC at Rs. 14 per share.
This is following SMS buying 17.5% or 21.429 million shares at Rs. 14 each to increase its overall holding to 57.946 million shares or 47.4%. The major seller was British American Technologies which exited from eChannelling divesting 16 million shares.
The price paid by SMS yesterday was higher in comparison to Rs. 9 when it acquired a 15% stake in October last year, also from BAT of Ruwan Silva-fame who is also a Director of eChannelling.
SMS first acquired eChanneling shares in September last year at Rs. 8.50 each.
Other major shareholder of eChannelling is Trading Partners Ltd., holding 28%. It acquired the bulk of the stake at Rs. 10 per share in November 2013.
SMS also bought around 5 million shares from the market including around 3 million from a foreign shareholder.
As at 31.3.2013, eChannelling had 2,275 shareholders of which over 1,800 were holding between 1 to 10,000 shares each.
Net asset per share of eChannelling was Rs. 1.31. It finished FY14 with a profit of Rs. 52 million, down from Rs. 77 million in the previous year.
www.ft.lk
No comments:
Post a Comment