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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » 02-Apr-2013 Dunamis Capital - Clarification Re: A Newspaper Article

02-Apr-2013 Dunamis Capital - Clarification Re: A Newspaper Article

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sriranga

sriranga
Co-Admin

Dunamis Capital Plc is to acquire 100% control of DNH Financial, the stock broking business of ERI Plc, for an estimated Rs. 200 million.

The deal has been finalised last week and an announcement is likely today or later this week.

Despite the bearish market, ERI’s stock broking operations had made a net profit of Rs. 4.9 million in the first nine months of 2012/13 financial year, as opposed to Rs. 5.2 million a year earlier. Its revenue amounted to Rs. 43 million, up from Rs. 42 million in the first nine months of FY11/12.

The effective price to be paid by Dunamis could be lower depending on the level of outstanding debt to be collected. For ERI, the sale signifies a capital gain, in comparison to Rs. 150 million it paid when acquiring the license of HNB Stockbrokers.

Dunamis Capital also owns 69% of First Capital Plc whilst the Group is the controlling shareholder of Orient Finance.

Major shareholders of Dunamis Capital include First Capital Markets Ltd./Nextventures Ltd. (21%), Manjula Mathews (21%), Janashakthi Ltd. (15.5%) and Dinesh Schaffter (16.5%).
http://www.ft.lk/2013/04/01/dunamis-capital-to-buy-dnh-financial-for-rs-200-m/

http://sharemarket-srilanka.blogspot.co.uk/

CSE.SAS

CSE.SAS
Global Moderator

http://www.cse.lk/cmt/upload_cse_announcements/781364898626_.pdf


02-Apr-2013 Dunamis Capital - Clarification Re: A Newspaper Article Dunami10

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

No point in Taprobane holding this now that they have the major client list

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