Shareholders representing 34 percent of Orient Garments PLC’s (OGL) stated capital have rejected to sell their holdings in the company in accordance to the mandatory offer presented by PCH’s S.H.M Rishan and PCH Holdings Private Limited.
The shareholders of OGL have communicated this to the Securities and Exchange Commission (SEC) ‘irrevocably confirming that they will not accept the mandatory offer at Rs.28 per each share’.
Those who have rejected the mandatory offer were Dr.T Senthilve (8, 666, 700 shares or 15.78 percent), Finco Holdigns Private Limited (5, 132, 425 shares or 9.35 percent), Finco Private Limited (3, 168, 000)shares or 5.77 percent, Swaruparanee Weerasooriya (551, 048 shares or 1 percent), Nishan Eshandra Weerasooriya (551, 048 or shares 1 percent), Nikan Private Limited (346, 400 shares or 0.63 percent) and Sarath Chandra Weerasooriya (234, 008 shares of 0.43 percent).
Even though PCH’s Rishan bought 29.95 percent or 16, 450, 000 shares at Rs.21.50, he had to come up with a mandatory offer at Rs.28, as he had been buying OGL shares earlier around Rs.28.
PCH Holdings, which is acting in concert with Rishan has 21.05 percent or 11, 557, 000 shares or OGL.
source - www.dailymirror.lk
No comments:
Post a Comment