Tuesday, January 11, 2011

Watapota Rights Issue

The Board of Directors of Watapota Investments PLC has resolved to recommend a Right Issue of ordinary shares to shareholders of the company.

The Colombo Stock Exchange filing said it is proposed to issue 25.1 million ordinary shares at a proportion of 75 new ordinary shares for every two ordinary shares held at a price Rs 20 per share.

The primary reason for the Right Issue is to raise capital for the company to carry out its planned investment activities.

Watapota into Expo Lanka

Watapota Investments Plc has evaluated an unlisted investment in shares of Expo Lanka Holdings Limited, a Colombo Stock Exchange filing said yesterday.

This major transaction amounted to Rs 249.6 million and the approval of the shareholders of the company would be sought by a special Resolution at an Extraordinary General Meeting which would be called for, it further said.

source - www.dailynews.lk

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