Environmental Resources Investment PLC (ERI) along with its subsidiary Ceylon Leather Products PLC (CLP) have been allocated 48,163,828 ordinary shares of Dankotuwa Porcelain PLC (DPL) at Rs. 9 per share on 2nd September 2010 representing a total holding of 66.67 percent after the share issue by way of a private placement, which allotment has been communicated to ERIL after trading hours on 3rd September 2010.
"When respectively taken, ERI’s holdings in DPL is 42,163,000 ordinary shares foe an investment of Rs. 379,467,000 respectively a holding of 58.36 percent CLP’s holdings in DPL is 6,000,828 ordinary shares for an investment of Rs. 54,007, 452 representing a holding of 8.31 percent," the company said.
"The acquisition results in ERI having to make a mandatory offer for all the remaining shares of DPL at a price of Rs. 9 per share which is the highest price paid by the aforesaid parties within the previous twelve months," it said.
source - www.island.lk
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