Pelwatte Sugar to seek advice of Treasury Secretary

sriranga · 1 Pelwatte Sugar to seek advice of Treasury Secretary Tue Nov 22, 2011 3:33 pm

sriranga

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Pelwatte Sugar to seek advice of Treasury Secretary Suga10

Directors of the Pelwatte Sugar Industries PLC have decided to seek advice from the Treasury Secretary to understand the current status of the company and its subsidiary Pelwatte Sugar Distilleries.

In a stock market filing the Company announced, since the takeover of the Company by the Government, there has been no official communication to date on this subject from the Treasury Secretary.

The company was acquired by the government following the introduction of the “expropriation law”.
Pelwatte Sugar is a listed firm in the Colombo bourse and is engaged in producing Sugar.
http://www.news360.lk/markets/stock-market/pelwatte-sugar-to-seek-advice-of-treasury-secretary

suja

suja

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Hi just to check whether this is correct. The initial communication is taking over of under utilized assets and the company announced that the LAND is vested to the govt. and not the company. So I feel that the company will belong to the shareholders and the land will be taken over by the govt. , i maybe wrong ??? knowing this will definitely have future opportunity in this share.

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Pelwatte Sugar to seek advice of Treasury Secretary

1 Pelwatte Sugar to seek advice of Treasury Secretary Tue Nov 22, 2011 3:33 pm

sriranga

2 Re: Pelwatte Sugar to seek advice of Treasury Secretary Tue Nov 22, 2011 4:04 pm

suja