Two indices moved different directions. All share price index closed 3.08 points lower at 2227.87 & MPI closed 6.37 higher at 2518.68.
Turnover for day was only LKR 76.3 Million.
However LKR 20 Million net foreign inflow recorded.

ANNOUNCEMENTS

Excerpt of the Minutes of the meeting of the Board of Directors of Associated Electrical Corporation PLC held on 23rd September 2008 at No.185, Union Place. Colombo.

“the Board further resolved that a. the acquisition by the Company is in the interests of the Companyb. the terms of the offer and the consideration to be paid for the shares at the Offer Price of Rupees One thousand Eight Hundred (Rs.1,800) per share is in the opinion of the Company’s Auditors a fair Valuec. the Board is not aware of any information that has not been disclosed to shareholders which is material to an assessment of the Value of the shares and as a result of which the consideration offered for the shares are unfair to shareholders accepting the offer.d. The offer not being made to the two major shareholders , namely Ajita De Zoysa & Company (Pvt) Ltd and Commercial Agencies (Ceylon) (Pvt) Ltd. Controlled by Mr. Ajita de Zoysa and his family is fair on the basis that the offer being made primarily consequent to certain shareholders requesting the Company to purchase their shares and Mr. Ajita de Zoysa on behalf of the two Companies informing the Board that they would not be willing to accept such Offer.The Company call up an Extraordinary General Meeting of the shareholders in terms of the Companies Act to approve the Purchase”CERTIFIED EXTRACT OF ARTICLE 13The Company may purchase or otherwise acquire any of its own shares on accordance with the provisions of the ACT

Offer to purchase shares of Associated Electrical Corporation PLC (Company) by the Company in terms of Section 64 of the Companies Act No.7 of 2007 from the Shareholders willing to sell at a price of Rupees One Thousand Eight Hundred (Rs.1,800) per share.

Pursuant to request made by certain Shareholders at the Annual General Meeting held on 10th September 2008 the Board after due consideration in terms of Section 64 of the Companies Act No.7 of 2007 resolved today to purchase from Shareholders willing to sell 276,652 Shares constituting 9.24% of the total shareholding of the Company held by the Shareholders of the Company other than the 2,628,476 shares constituting 90.76% held by the two major shareholders (being parties in concert) namely Commercial Agencies (Ceylon) (Pvt) Ltd and Ajita De Zoysa & Co (Pvt) Ltd on the basis of Mr. Ajita De Zoysa confirming to the Board that the said Companies would not be accepting such Offer.The 267,652 Shares shall be purchased at Rupees One Thousand Eight Hundred (Rs.1,800) per share which in the opinion of the Companies Auditors, is the Fair Value per Share.The Company proposes to Call up a Meeting of the Shareholders on 20th October 2008 in terms of the Companies Act No.7 of 2007 read together with Article 13 of the Articles of Association of the Company, to obtain by an Ordinary Resolution the approval of the Shareholders for the Company to purchase its own shares in terms of Section 64 of the Act.Subject to the Resolution set out in ’3′ above being approved at the said Meeting, the Offer to purchase shares would commence on 21st October 2008 and close on 04th December 2008.Attached hereto is a certified excerpt of Article 13 of the Articles of Association of the Company, which permits the Company to Purchase its own shares.

CEYLINCO FINANCE PLC

Amalgamation of Ceylinco Finance PLC & Asian Finance LtdThe Board of Directors have resolved to amalgamate with its subsidiary Asian Finance Ltd subject to the final approval of the Central Bank of Sri Lanka in the form of a share swap as per the details set out below.Ratio – Asian Finance Ltd shareholders will receive seven (7) ordinary shares of Ceylinco Finance PLC for every two (2) ordinary shares held by them in Asian Finance Ltd (7:2). Any fractional shares arising from this will be settled by cash.No. of Shares to be Issued – A maximum of One Million Ninety Four Thousand Three Hundred & Forty Five (1,094,345) ordinary shares of Ceylinco Finance PLC to the Minority Shareholders representing 11% of the shares issued by Asian Finance Ltd. Balance 89% of shares held by Ceylinco Finance PLC in Asian Finance Ltd will be cancelled.Current Stated Capital – Rs. 340,317,560/= (consisting of Rs. 199,860,500/= from the previous “A” Class Ordinary Share Capital Rs. 78,642,860/= from the previous Share Premium Account transferred to Stated Capital and Rs. 61,814,200/= on account of Non Cumulative Non Participating Redeemable Preference Share Capital)The company further agreed that the issue of shares under share swap is subject to the Exchange approving in principle the issue and listing of shares and obtaining shareholders approval at an EGM.

LANKA WALLTILE PLC – CONSOLIDATION AND SUB DIVISION OF SHARES

Company:- LWLDate of EGM: 29-OCT-2008 Consolidation and Sub-Division Based on Shareholding as at end of trading: 29-OCT-2008 Period of Dealing Suspension(both days inclusive): 30-OCT-2008 to 19-Nov-2008 Date of Commencement of trading: 20-NOV-2008 Subject to Shareholder Approval at a General Meeting.

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