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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » CIESOT Private Limited

CIESOT Private Limited

2 posters

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1CIESOT Private Limited Empty CIESOT Private Limited Sun Feb 16, 2014 10:55 am

jonta999

jonta999
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
The court ordered that the shares held by Lalith Kotelawala in CIESOT Private Limited be transferred to GKCCCL SPV. The Court also granted Counsel time to make representations with regard to CIESOT Private Limited within one month.
This shareholding is of significant value to Golden Key depositors. CIESOT owns 22.8% of Ceylinco Insurance PLC and, with this order, and Kotelawala owning half of that, GK Depositors would benefit by having a 11.4% stake in Ceylinco Insurance PLC. The estimated value of this shareholding may well amount to Rs 2 Billion depending on the Ceylinco Insurane PLC share price.
The Court also ordered a further investigation into the other shareholders of CIESOT Private Limited, namely Mr Alwis and Mr Ranasinghe.

Full story : http://www.thesundayleader.lk/2014/02/16/golden-key-depositors-get-windfall-rs-2-billion/

2CIESOT Private Limited Empty Re: CIESOT Private Limited Sun Feb 16, 2014 9:38 pm

Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This is good news for CINS shareholders and invetors. Now there is a good possibility of takeover of the company by existing minority shareholders or other outside investors.

As a investor I prefer CINS-X against the CINS-N. But if you are looking for big money then you should risk your money on CINS-N.

Beware: Court cases generally take more than 1 year to get any form of direction.

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