Melstacorp PLC together with related parties (Milford Exports, Stassen Exports and Ms. DST Jayawardena) now have a controlling 51.04% of the Aitken Spence conglomerate, Melstacorp Managing Director Amitha Gooneratne said in a Stock Exchange filing on Mar. 26 announcing the acquisition of approx. 8.13 million Aitken Spence shares by Melstacorp.
Gooneratne listed the shares held by Melstacorp and related parties as – Melstacorp approx. 47.17%, Milford Exports approx. 1.064%, Stassen Exports approx 0.799 and Ms. Jayawardena as 0.0068% (27,839 shares.)
They collectively hold approx 199.09 million shares in Spence (49.038% approx).
The filing explained that "as this purchase is made after a completion of one year cycle and also as the company together with the aforementioned connected parties has crossed the 50% threshold, the restriction on purchase without triggering a mandatory offer as per SEC Rule No. 31.1 will not apply to this purchase or any future purchase of Aitkent Spence PLC shares by this company (Melstacorp).
Gooneratne listed the shares held by Melstacorp and related parties as – Melstacorp approx. 47.17%, Milford Exports approx. 1.064%, Stassen Exports approx 0.799 and Ms. Jayawardena as 0.0068% (27,839 shares.)
They collectively hold approx 199.09 million shares in Spence (49.038% approx).
The filing explained that "as this purchase is made after a completion of one year cycle and also as the company together with the aforementioned connected parties has crossed the 50% threshold, the restriction on purchase without triggering a mandatory offer as per SEC Rule No. 31.1 will not apply to this purchase or any future purchase of Aitkent Spence PLC shares by this company (Melstacorp).
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