Shares of Distilleries Corporation of Sri Lanka will be suspended and owners as of September 30 will get four shares of Melstacorp in return, company said in a stock exchange filing.
The trading in shares will be suspended starting from October until the public float in DCSL is restored. Distilleries will then become a 100% owned unit of Meltacorp.
Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from the CSE subject to necessary approvals.
The decision is subject to the special resolution being passed by the shareholders at the EGM convened for 6 September and the Court sanctioning the arrangement on the 7 September being the date fixed for the next hearing.
www.dailynews.lk
The trading in shares will be suspended starting from October until the public float in DCSL is restored. Distilleries will then become a 100% owned unit of Meltacorp.
Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from the CSE subject to necessary approvals.
The decision is subject to the special resolution being passed by the shareholders at the EGM convened for 6 September and the Court sanctioning the arrangement on the 7 September being the date fixed for the next hearing.
www.dailynews.lk
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