Gardiners, the major shareholders of Ceylon Hotel Corporation PLC (CHOT), yesterday consolidated their shareholdings in the firm under Curlew Private Limited, a company controlled by the Gardiners, which in turn is the parent company of CHOT.
Before the share transfer, Curlew was the main shareholder having 52 percent of CHOT. Following the transaction, the shareholding of the Curlew increased to 70 percent.
According to brokers, the transaction took place through five off-market crossings, which accounted for 29.6 million shares, each at Rs.35.
The shareholdings that were transferred to the Curlew were; 314, 479 shares held by S.E.C Gardiner, 3,068, 888 shares jointly held by S.E.C Gardiner and M.Gardiner, 58, 783 shares held by Hotel International, 18, 153, 988 shares held by Galle Face Hotel Company Limited, 1, 916, 700 shares held by Union Company Limited and 5, 830, 312 held by Cyril Gardiner.
A total of 31.85 million CHOT shares were traded, becoming the highest contributor to the day’s turnover with Rs.1.12 billion.
CHOT share yesterday opened at Rs.32.20 and closed at Rs.34. The highest price it traded was Rs.40 while the lowest point was Rs.31.
The company has 171.8 million shares in issue. Sri Lanka’s state owned pension fund, Employee Provident Fund has 11 percent stake in CHOT.
source - www.dailymirror.lk
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