Market Update – 11-09-2008.
All Share Index closed 12.01 points lower at 2372.04 & Milanka Price Index closed the day 20.29 points lower at 2710.44.
Turnover was LKR 126 Million.
Vallibel Power Erathna Plc closed LKR 4.50 with 1,142,000 shares traded.
Market is waiting for positive news to reverse its negative trend.
ANNOUNCEMENTS
CLASSIFICATION OF SHAW WALLACE & HEDGES PLC UNDER INVESTMENT TRUST
Shaw Wallace & Hedges PLC has been reclassified under “Investment Trust” sector with effect from 10th September 2008.
KSHATRIYA HOLDINGS PLC – SALE OF ASSETS USED BY MAGNA SUPERMARKETS LTD
Kshatriya Holdings PLC hereby announces to the CSE that it has formalized an agreement with the owners of “Laughs” chain of supermarkets to sell the assets of the nine supermarket outlets owned by Kshatriya Holdings PLC through its fully owned subsidiary Magna Supermarkets td. The total consideration would be linked to the valuation of the assets. Kshatriya Holdings PLC expects to conclude this transaction within the next few days. Magna Supermarkets will cease operations on the conclusion of the sale.
CARGO BOAT DEVELOPMENT PLC – Amended Dividend Payment Date
Company ID:- CABODate of Announcement:- 11. Sep. 2008Rate of Dividend:- Rs. 1.00 Per Share First and Final DividendFinancial Year:- 2007/2008AGM:- 29. Sep .2008XD:- 30. Sep .2008Payment:- 30. Sep. 2008 Share Transfer Book Open
RENUKA CITY HOTEL PLC – Amended Dividend Payment Date
Company ID:- RENUDate of Announcement:- 11. Sep. 2008Rate of Dividend:- Rs. 5.00 Per Share First and Final DividendFinancial Year:- 2007/2008AGM:- 29. Sep .2008XD:- 30. Sep .2008Payment:- 30. Sep. 2008 Share Transfer Book Open
ANNOUNCEMENT ON LANKA MARINE SERVICES (PRIVATE) LIMITED (“LMS”), A SUBSIDIARY OF JOHN KEELLS HOLDINGS PLC
A certified copy of the order made by the Supreme Court in case No SC (FR 209/2007) on 8th September 2008 was received today. The Court made the following directions regarding the submission of LMS that is has not been able to remove all its stock of oil and lubricants on the land but were nevertheless making arrangements to vacate the land on 10th September 2008.a. LMS was granted time until 12th September 2008 to remove the oil and lubricants from the landb. The workmen of LMS will assist in this process of removing the oil and the lubricants on the following conditions:1. LMS will deposit in a bank, on terms and conditions to be determined by the commissioner of Labour an amount calculated at the rate paid in respect of employees whose services were previously terminated by LMS, whether on a voluntary retirement basis or otherwise, in respect of the current employees who have made application for terminal benefits to the Commissioner to meet any ultimate order that will be made by the Commissioner of Labour in this regard, according to law 2.the said amount will be held as a deposit to be disbursed on the basis of an order made by the Commissioner of Labour subject to the legal rights of the parties.c.If for any reason the oil or lubricants are not removed by 12th September 2008 whatever remains will be the property of the Sri Lanka Ports Authority LMS was notified by the Commissioner General of Labour that the amount of security to be deposited was Rs.153,228,593. LMS has deposited this amount into a separate bank account and notified the Commissioner General of Labour as required and will await the determination of the Commissioner.LMS is currently finalizing its handover of the land to the Sri Lanka Ports Authority which handover will be completed today. LMS has commenced the removal of the remaining stocks of oil and lubricants and will work with the Sri Lanka Ports Authority until 12th September 2008 to take out all removable stocks of oil and lubricants from the land.By next week, LMS will be providing its customers with all grades of bunker fuels as in the past using a combination of floating storage and the proposed shared land storage facility to be run by the Sri Lanka Ports Authority. The Company has engaged a tanker on a long term charter for procurement and storage of bunker fuels. LMS will also continue to provide bonded storage and delivery services of marine lubricants on behalf of the many global lubricant manufacturers represented by them.
Source: Colombo Stock Exchange.
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