Further, at the time of the above acquisition, JL already held 993,749 voting ordinary shares ofBFL, constituting 12.99% of the voting rights which had been purchased between January, 2 2015 to January 10, 2015, at a total price of Rs. 109,312,390.
Pursuant to the requirement imposed and guidelines given by the Central Bank of Sri Lanka in terms of the said Master Plan on Consolidation of the Finance Sector Companies, Janashakthi PLC (Formerly known as Janashakthi Limited), which had controlling interests (through its subsidiaries) in Orient Finance PLC entered into an agreement with Bartleet Transcapital Limited to acquire 86.79% represented 6,639,998 issued ordinary share capital of Bartleet Finance PLC with the ultimate aim of amalgamating OFL with BFL.
In terms of the corporate disclosure made in Colombo Stock Exchange JL has acquired 86.79% shareholdings in BFL on January 22 2015.
With the above acquisition JL holds 7,633,747 issued ordinary shares of BFL constituting approximately 99.78% of the voting rights of the Company. In terms of the letter dated on December 24 2014, sent by Securities and Exchange Commission of Sri Lanka they have granted their approval for Janashakthi Limited to dispense with having to make a Mandatory Offer to the remaining shareholders of BFL as only debentures of BFL are listed.
www.dailynews.lk
Pursuant to the requirement imposed and guidelines given by the Central Bank of Sri Lanka in terms of the said Master Plan on Consolidation of the Finance Sector Companies, Janashakthi PLC (Formerly known as Janashakthi Limited), which had controlling interests (through its subsidiaries) in Orient Finance PLC entered into an agreement with Bartleet Transcapital Limited to acquire 86.79% represented 6,639,998 issued ordinary share capital of Bartleet Finance PLC with the ultimate aim of amalgamating OFL with BFL.
In terms of the corporate disclosure made in Colombo Stock Exchange JL has acquired 86.79% shareholdings in BFL on January 22 2015.
With the above acquisition JL holds 7,633,747 issued ordinary shares of BFL constituting approximately 99.78% of the voting rights of the Company. In terms of the letter dated on December 24 2014, sent by Securities and Exchange Commission of Sri Lanka they have granted their approval for Janashakthi Limited to dispense with having to make a Mandatory Offer to the remaining shareholders of BFL as only debentures of BFL are listed.
www.dailynews.lk
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