Friday 25th September 2009.

Colombo Indices managed to close the day with marginal gains despite ups & downs (fluctuations) within the trading session. ASI was up by 3.38 points to close at 2892.05 while Milanka Index closed the day at 3267.33, up 19.22 points. Turnover was Rs 436.2 million.

Heavy trading reported in troubled Ceylinco group of companies. Seylan Bank Nonvoting shares contributed Rs 90.2 million towards total market turnover by trading 6,934,800 shares & closed the day at Rs 13.25, up one rupee.

Tangerine Beach Hotel Plc was up by 2.75 to close at Rs 71.75. Dipped Products Plc gained 3.75 to close at Rs 87.25.

Aitken Spence Plc lost 13.00 to close at Rs 885.00. Conglomerate John Keells Holdings Plc was declined by 25 cents to close at Rs 152.75. More than 2.2 million Vallibel Power shares traded & closed the day 10 cents higher at Rs 4.10.

Announcements

25-Sep-2009 SEYLAN BANK PLC – PUBLIC OFFERING OF ORDINARY VOTING SHARES

SSP Coroprate Services (Pvt)Ltd has announced the figures in respect of the applications processed as at 24th September 2009, subject to realization of cheques, to the CSE as follows:

Number of applications received : 1,403

Number of shares applied : 30,438,874

Total value of shares applied : Rs.1,065,360,590/-

25-Sep-2009 ALLOTMENT OF 19,383,000 ORDINARY (VOTING) SHARES OF SEYLAN BANK PLC – PRIVATE PLACEMENT OF SHARES – 2009

The Company has informed the CSE,

“Seylan Bank PLC has allotted 19,383,000 Ordinary (voting) shares in the capital of the Company to the following allottees under its Private Placement of 32,150,000 Ordinary (voting) Shares, on 24th September 2009.

Name of Investor – Sri Lanka Insurance Corporation Ltd (SLIC)

No. of Ordinary (voting) shares allotted – 6,383,000

Consideration at Rs.35/- per share – 223,405,000

Name of Investor – Bank of Ceylon (BOC)

No. of Ordinary (voting) shares allotted – 13,000,000

Consideration at Rs.35/- per share – 455,000,000

Total

No. of Ordinary (voting) shares allotted – 19,383,000

Consideration at Rs.35/- per share – 678,405,000

As per the terms and conditions agreed to by and between Seylan Bank PLC and Sri Lanka Insurance Corporation Ltd (SLIC) relating to the Private Placement, SLIC will subscribe to the Private Placement in three (03) tranches.

Accordingly, the shares allotted to SLIC as mentioned above constitute the 1st tranche of their total equity investment in Seylan Bank PLC of LKR 670,250,000/- represented by 19,150,000 ordinary (voting) shares in the Company.

Subscription to the second tranche of 6,383,000 shares (LKR 223,405,000/-) is due on or around 15th October 2009 and the third tranche of 6,384,000 shares (LKR 223,440,000/-) is due on or around 15th November 2009.

The 19,383,000 Ordinary (voting) shares allotted are expected to be listed on the Colombo Stock Exchange (CSE) shortly upon submission of the Declaration to the CSE”.

25-Sep-2009 SINGALANKA STANDARD CHEMICALS PLC – Merchant Bank of Sri Lanka PLC

The Company has informed the CSE, “that our client, Gulf East Finance Limited has purchased additional 1000 shares at LKR 74.50 per share on 22 September 2009 after triggering the Mandatory Offer on 18 September 2009.

With this purchase, the total holding of Gulf East Finance Limited in Singalanka Standard Chemicals PLC has increased to 30.49%”.

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Filed under: Daily Stock Market Report

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