Vallibel Finance PLC will issue 17,312,750 ordinary shares by way of a rights issue, which shall rank equal and pari passu with the existing ordinary shares five new ordinary shares for every 12 ordinary shares held as at the relevant date at a consideration of Rs 60 per share.
The current stated capital of the company is Rs.287,153,000, represented by 41,550,600 ordinary shares. The proceeds will be utilized to strengthen the tier I capital base of the company in keeping with the company’s expansion and maintaining the capital adequacy requirements as stipulated by the Central Bank of Sri Lanka. The Rights Issue is subject to the exchange approving in principle, the issue and listing of shares and the company obtaining the shareholders’ approval at a general meeting.
The current stated capital of the company is Rs.287,153,000, represented by 41,550,600 ordinary shares. The proceeds will be utilized to strengthen the tier I capital base of the company in keeping with the company’s expansion and maintaining the capital adequacy requirements as stipulated by the Central Bank of Sri Lanka. The Rights Issue is subject to the exchange approving in principle, the issue and listing of shares and the company obtaining the shareholders’ approval at a general meeting.
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