Wednesday, August 24, 2011

Nimal ups stake in Ascot

Top corporate leader and investor Nimal Perera has upped his stake in Ascot Holdings PLC (ASCO), the latest accounts released by the firm showed. As per June 30, 2011, Nimal Perera has 1,441,300 shares or 17.67 per cent of ASCO, being the second largest shareholder after Axis Financial Services.

Meanwhile, ASCO has made a net loss of Rs. 2.3 million for the quarter ended 30 June (1Q12) against a net profit of Rs.4.8 million in the corresponding quarter of the previous year. The notes that accompanied the financial also said that the company made an investment of Rs. 20 million to maintain the 25 per cent stake in its stock brokering associate Arrenga Capital.

ASCO has also increased its investment in Subsidiary, L&A Quarries by Rs.15 million, during the period under consideration.  The note 6 further said that ASCO made another investment of Rs.105 million in the subsidiary, Ascot Development.

The book value per share of the company lies at Rs.73 while the share is trading around Rs.124 levels.

source -

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