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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » People’s Leasing announces Rs. 567 m Rights with warrants

People’s Leasing announces Rs. 567 m Rights with warrants

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ruwa925


Manager - Equity Analytics
Manager - Equity Analytics
People’s Leasing Plc’s Board yesterday resolved to recommend to shareholders a Rights Issue of one new ordinary share for every two held and three warrants for every 10 rights shares subscribed.

The Company will raise Rs. 567.8 million via issuance of the Rights Issue (22.71 million shares at Rs. 25 each). Its current stated capital is Rs, 819.9 million whilst its public float is 11.49%.

Funds via Rights is to boost capital adequacy to be in compliance with directions issued under the Finance Companies Act and to expand People’s Leasing business activities to strengthen financial position and profitability, the Company’s Managing Director D.P. Kumarage said.

The warrants entitlement will see an issuance of 6.81 million warrants exercisable in 2012 at Rs. 30. Each warrant will have the right to be converted into one ordinary share at the time of conversion. The warrants will ensure a fund flow worth Rs. 204.4 million in 2012.
The proposed Rights Issue



Last edited by Quibit on Sat Feb 26, 2011 2:46 pm; edited 1 time in total (Reason for editing : format condensed)

mark

mark
Expert
Expert
http://forum.srilankaequity.com/t1182p10-smll-announcement#7720

3People’s Leasing announces Rs. 567 m Rights with warrants Empty Worth to buy this level? Sat Feb 26, 2011 9:00 am

MarketResearch

MarketResearch
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
People's Leasing is worth to buy this level?

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
What I See is; this is gonna go haywire soon with the attraction for the price (for rights) and attatched warrents...
I did not expect for them to come out with rights issues without annocuncing a good plan of increasing their profits... The mother compnay holds a considerable amt of shares and its very easy for them to dump a little and get some money upfront before a rights isse (as u may have seen our members discussed this earlier as well ;-))
So in my books noting to gain from this as a true investment.. but for a short term trade I see some positive side.. If history itself repeasts we know where SMLL is heading..

MarketResearch

MarketResearch
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@smallville wrote:What I See is; this is gonna go haywire soon with the attraction for the price (for rights) and attatched warrents...
I did not expect for them to come out with rights issues without annocuncing a good plan of increasing their profits... The mother compnay holds a considerable amt of shares and its very easy for them to dump a little and get some money upfront before a rights isse (as u may have seen our members discussed this earlier as well ;-))
So in my books noting to gain from this as a true investment.. but for a short term trade I see some positive side.. If history itself repeasts we know where SMLL is heading..

Thanks,smallville.

As we saw recently, this stock will go up another two days and stagnate.Running with Stories.Yes.Very short time good.

ruwa925


Manager - Equity Analytics
Manager - Equity Analytics
which price level good to buy.....

jkhdimo


Stock Analytic
Stock Analytic
appachiye ? me mona ilawakda me ?

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