The Board of Directors of Palm Garden Hotels have resolved to amalgamate with Southern Cleaners and Central Services. They are wholly owned subsidiaries of Palm.
By the terms of this amalgamation, all Southern and Central shares will be cancelled without payment or any other consideration and Palm will acquire all assets and liabilities of Southern and Central.
The Board of Directors of the companies are of the opinion that the proposed amalgamation is in the best interests of all Companies and are also satisfied that the amalgamated company, Palm will immediately after the amalgamation becomes effective, satisfy the Solvency Test.
The amalgamation will take effect on October 30, 2015 or such other date as may be decided by the Registrar General of Companies.
www.dailynews.lk
By the terms of this amalgamation, all Southern and Central shares will be cancelled without payment or any other consideration and Palm will acquire all assets and liabilities of Southern and Central.
The Board of Directors of the companies are of the opinion that the proposed amalgamation is in the best interests of all Companies and are also satisfied that the amalgamated company, Palm will immediately after the amalgamation becomes effective, satisfy the Solvency Test.
The amalgamation will take effect on October 30, 2015 or such other date as may be decided by the Registrar General of Companies.
www.dailynews.lk
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