Ceylon Cold Stores PLC in a stock exchange filing yesterday (9) said it was proposing 1for 10 rights issue of ordinary shares at Rs. 3,000 each to raise Rs. 648 million to contribute towards capital expenditure plans of the company and also to infuse equity to Jay Kay Marketing Services Ltd.
The company said the Board of Directors resolved that the price of Rs. 3,00 per share was fair and reasonable.
The current shares in issue are 21.6 million and the stated capital amounts to Rs. 270.2 million. Post-rights issue, the share capital would amount to Rs. 23.76 million.
The rights issue is subject to shareholder and Colombo Stock Exchange approval.
The company is also planning to sub-divide the post-rights issue share capital in the proportion 4:1, bringing the number of shares to 95.04 million.
source - www.island.lk
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