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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Dhammika Perera seen reducing stake in Lanka Ceramic

Dhammika Perera seen reducing stake in Lanka Ceramic

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Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.sundaytimes.lk/130602/business-times/dhammika-perera-seen-reducing-stake-in-lanka-ceramic-46464.html

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
Is this news true? Dammika perera acquired CERA very recently. will he sell it very soon.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
gaja

I can;t seem to access the page for some reason. Can you post the whole article?

@Gaja wrote:http://www.sundaytimes.lk/130602/business-times/dhammika-perera-seen-reducing-stake-in-lanka-ceramic-46464.html

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Can someone post the article contents please?
I can;t access sundaytimes.lk for some reason.


@slstock wrote:gaja

I can;t seem to access the page for some reason. Can you post the whole article?

@Gaja wrote:http://www.sundaytimes.lk/130602/business-times/dhammika-perera-seen-reducing-stake-in-lanka-ceramic-46464.html

nihal123

nihal123
Manager - Equity Analytics
Manager - Equity Analytics
Anthony Page, Chairman Lanka Ceramic PLC is expected to buy 30 per cent in this company from businessman Dhammika Perera who would still hold a 51 per cent stake, officials close to Mr. Perera said.

A consortium of investors led by Mr. Perera’s Royal Ceramics bought over 24 million shares or 80 per cent of Lanka Ceramic PLC held by the Page family-owned Ceylon Theatres Group early this month at Rs 2.9 billion which saw a share traded at Rs.120.

In the transaction, Vallibel One PLC controlled by Mr. Perera bought 1 million shares while Vallibel subsidiary, Royal Ceramic bought 21 million shares. The 80 per cent stake which Mr. Perera’s companies’ bought included Lanka Ceramic and its subsidiaries Lanka Tiles, Lanka Walltiles, Talawakele Plantations, and Horana Plantations.

Mr. Page also bought 1 million shares. “In the mandatory offer to purchase the remaining shares, Mr. Page will buy 30 per cent for Rs 1 billion. Royal Ceramics has made an application to the Colombo Stock Exchange pertaining to this arrangement at the mandatory offer stage and its pending approval,” the official the Business Times. He said that the mandatory offer which will start on June 7 will see Mr. Page purchasing the shares at the same price it was sold at – Rs 120.

He said that this is a substantial personal investment for Mr. Page and that he has organised his finances to buy the 30 per cent.
Analysts said that this strategic purchase now enables Royal ceramics to enjoy the monopoly in the country’s tile manufacturing industry with imported tiles being the company’s only competitor controlling some 25 per cent market share at present. “This would almost double the floor tile manufacturing capacity to 27,000 square metres per day, they said.

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
Mr. Page also bought 1 million shares. “In the mandatory offer to purchase the remaining shares, Mr. Page will buy 30 per cent for Rs 1 billion.
RCL bought 80% . How could Mr. Page buy 30% ?

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@cseguide wrote:Mr. Page also bought 1 million shares. “In the mandatory offer to purchase the remaining shares, Mr. Page will buy 30 per cent for Rs 1 billion.
RCL bought 80% . How could Mr. Page buy 30% ?

It seems at the time of the transaction, the deal seems to be agreed, because the article says Mr. Page now arrange the finance, so this may be one of the reason for the CARG Sales by him, am expecting their results tomorrow morning. As per understanding RCL will keep the 51% and might transfer the balance to him.

At Slstock sorry for the delay and since friend posted the article hope you have read it in full now

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
this may not be an END....
there will be a CHAIN of reactions.... or settling! scratch

Bond


Manager - Equity Analytics
Manager - Equity Analytics
Page ..... well at this rate he will soon lose CARG Razz

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Bond wrote:Page ..... well at this rate he will soon lose CARG Razz

Invisible reasons behind these sales? ( some form of pressure from Super Powers?)

Bond


Manager - Equity Analytics
Manager - Equity Analytics
@Redbulls wrote:
@Bond wrote:Page ..... well at this rate he will soon lose CARG Razz

Invisible reasons behind these sales? ( some form of pressure from Super Powers?)

Control over CARG is limited to high court interpretations. Same with employee trust related entities.......and we know what DP did to Hayleys.........are trustees protecting employees or themselves

If you bring a motion to remove the board at an EGM then can the trust vote ?

What did I say about takeover plans Question

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