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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Please tell me...

Please tell me...

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1Please tell me... Empty Please tell me... Tue Mar 19, 2013 10:09 pm

keeper

keeper
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
SMLL mean People's finance or Seylan merchant leasing , Evil or Very Mad

2Please tell me... Empty Re: Please tell me... Tue Mar 19, 2013 10:15 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Easy way to find go to CSE wbsite and find from symbol search.

SMLL: People's Finance PLC

3Please tell me... Empty Re: Please tell me... Tue Mar 19, 2013 10:46 pm

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics

Pl read the following , extracted from ,
http://www.cse.lk/announcements.do


MANDATORY OFFER BY PEOPLE'S LEASING COMPANY LIMITED TO ACQUIRE ALL THE REMAINING SHARES OF SEYLAN MERCHANT LEASING PLC - People's Leasing Company Ltd.

27 July 2009

The Company has informed the CSE that,"In terms of Rule 24 of the Company Take-overs and Merger Code 1995 as amended in 2003, we make the followings statements on behalf of People's Leasing Company Limited.

The total number of shares (as nearly as practicable), as at the close of the Offer on 24th July 2009.

a) For which acceptance of the Offer has been received - Shares 2,882,526 - 12.69%
b) Held before the Offer Period - Shares 19,194,014 - 84.50%
c) Acquired during the Offer Period - Null"
SALE OF SEYLAN MERCHANT LEASING PLC

05 June 2009

The company informed the CSE that " the sale of 19,194,014 shares of Seylan Merchant Leasing PLC at Rs. 23/= on 5th June 2009 (percentage 84.5%) from Seylan Merchant Bank PLC to Peoples Leasing PLC".
REPORT IN TODAYS ISSUE OF THE DAILY NEWS BUSINESS SECTION - PEOPLES LEASING TAKES OVER SEYLAN MERCHANT LEASING PLC MANAGEMENT

02 April 2009

The company informed the CSE with regard to the above news paper article "The report which is factually incorrect and misleading could result in a serious loss of reputation and customer confidence for Seylan Merchant Leasing PLC (SMLL) and Seylan Merchant Bank PLC (SEMB).

Company wishes to clarify the following points in the report by Mr. Hiran H Senevirathne,

1. No EGM was held for the Shareholders of SMLL but an EGM in terms of Section 220 of the Companies Act No 07 of 2007 was held on 31st March 2009 for the Shareholders of SEMB (Seylan Merchant Bank).

2. SMLL is not a leasing company but a Finance company registered by the Monetary Board of the Central Bank of Sri Lanka

3. SMLL signed Confidentiality and Non Disclosure Agreement with Peoples Leasing Company Ltd. and not with Peoples Leasing Bank as stated in the article.

4. Peoples Leasing Company Ltd. is currently considering investing in a minimum 80% of the shares of SMLL and there is no management takes over as stated in your article.

5. In the said article it is reported quoting "Market Sources" that the net capital of SMLL is below the asset base which is totally incorrect. The core-capital requirement for a Registered Finance Company is Rs. 200 Million and as per our financial statements as at 31st December 2008, SMLL's net capital is more than Rs. 376 Million.

6. The said article quoting Ms.Waniganayaka - Assistant Commissioner - Industrial, reports that the last months salaries of the employees of SMLL have not been paid. We categorically deny the allegation and wish to state that the salaries of all employees of SMLL were paid for the Month of March 2009.

4Please tell me... Empty Re: Please tell me... Tue Mar 19, 2013 11:33 pm

keeper

keeper
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Thanks for my friends, My TWS software has SMLL as Seylan merchant leasing,That's why i asked you.

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