ASI & MPI gained 9.99 points & 6.40 points respectively to end at 1734.41 & 1843.72.

Turnover sky rocketed to Rupees 1.68 billion mainly due to JKH buying of Union Assurance Plc, Ceylon Cold Stores Plc & John Keels Plc (Stock broking subsidiary).

There were 52 gainers & 39 losers.

Announcements

Acquisition of Shares in Union Assurance PLC, Ceylon Cold Stores PLC & John Keells PLC

John Keells Holdings PLC (JKH) wishes to announce that it has acquired on the CSE the following shares in its associate & subsidiary companies for a total consideration of Rs. 1,599,909,965.13,864,965 shares (37%) of Union Assurance PLC at Rs. 72 per share4,361,311 shares (20.2%)of Ceylon Cold Stores PLC at Rs. 115 per share1,657,300 shares (10.9%) of John Keells PLC at Rs. 60 per shareFurther to the above acquisitions, JKH’s shareholding in John Keells PLC will increase to 86.9% & the John Keells Group shareholding in Union Assurance PLC & Ceylon Cold Stores PLC will increase to 73.9% & 80.5%, respectively.JKH will be making a mandatory offer for the remaining shares of Union Assurance PLC not held by JKH under Section 31 of the Company Take-Overs & Mergers Code 1995.

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