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EXCHANGE RATE PREDICTION: 2022

Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_lcap16%Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_rcap 16% [ 43 ]
Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_lcap21%Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_rcap 21% [ 57 ]
Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_lcap30%Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_rcap 30% [ 83 ]
Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_lcap34%Adam Investments prepares for a takeover of PCH Holdings, PC Pharma Vote_rcap 34% [ 93 ]

Total Votes : 276

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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Adam Investments prepares for a takeover of PCH Holdings, PC Pharma

Adam Investments prepares for a takeover of PCH Holdings, PC Pharma

+2
BullvsBear
sanju351
6 posters

Go down  Message [Page 1 of 1]

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Adam Investments prepares for a takeover of PCH Holdings, PC Pharma

By Sunimalee Dias
View(s):

In an effort to take control, Adam Investments made a mandatory offer for PCH Holdings PLC and PC Pharma PLC on Thursday after increasing its stake in the two stocks at 42.96 per cent and 31.15 per cent, respectively.

PC House has been involved in a number of increased transactions lately on the Colombo Stock Exchange (CSE) with Adam Investments increasing its stake on the stock.

On Thursday, PC House founder S.H.M Rishan sold two million shares at Rs.0.40 of his stock as announced to the CSE.

Adam Investments had purchased two blocks of shares amounting to over 82 million voting ordinary shares of PCH Holdings PLC at Rs.2 approximately acquiring 32.8 per cent of the issued share capital of the company.

Prior to the purchase, Adam Investments held over 25 million voting ordinary shares and currently holds over 108 million increasing its stake to 42.9 per cent in the company.

Adam Investments also purchased 5.5 million ordinary shares of PC Pharma on Wednesday at Rs.1.70 thereby increasing its stake to 31.15 per cent of the total issued ordinary shares of the company.

As part of the mandatory offer, Adam Investments has offered to buy the remaining shares of PCH Holdings PLC at Rs.2 per share and at Rs.1.70 per share for all remaining shares of PC Pharma.

In the meantime, PCH Holdings has resolved to dispose of a 100 per stake of Beico Link Carbons (BLC), a company under its group, amounting to 5.6 million shares to MMD Ventures Lanka for Rs.180 million. MMD Ventures already has a shareholding in the company.

This was carried out in a bid to safeguard the business of BLC, to settle dues to top urgent creditors who have filed legal action, the stock exchange filing stated.

PCH Holdings noted that bankers DFCC Vardhana had already sent letters of demand to BLC to carry out the Parate Execution on the property mortgaged of BLC.

“This action will have serious repercussions on the welfare of the company and its longstanding staff. Since the group has no financial stability to service the loans of BLC. The most appropriate action is to dispose BLC,” the company stated.

BLC commenced operations in 1987 as a joint venture partnership between Beijing Corporation for International Economic Co-operation and Link Holding Pvt Ltd which expired in 1992. In 2009 Beijing Coprporation for International Economic Co-operation ceased to be a shareholder and a director of BLC. The company was acquired by PCH Holdings on 9th December 2011.

BLC manufactures activated carbon using both coconut shells and charcoal in the factory for export to countries such as USA, South Africa, South Korea, Japan and Middle East countries. It is located in Giriulla at the southern part of the coconut triangle and operates with two vertical kilns (which can produce 3840 MTs of activated carbon per annum) and two Rotary kilns (which can produce maximum of 2880 MTs per annum).

BullvsBear

BullvsBear
Senior Equity Analytic
Senior Equity Analytic

We can expect lot of dramas from this group coming days /weeks...

PCP-Mandatory offer at 1.70Rs. but trading at 2.40Rs.
PCHH- Mandatory offer at 2.00Rs. but trading at 3.00Rs.
 Rolling Eyes scratch

Both shares have appreciated after announcing Mandatory offer...Remarkable  silent

shadow walker

shadow walker
Vice President - Equity Analytics
Vice President - Equity Analytics

adam active the market again.. In these days everyone active and keep eye on AINV. PCP . PCHH . CLPL.. Its good for cse..

BullvsBear

BullvsBear
Senior Equity Analytic
Senior Equity Analytic

shadow walker wrote:adam active the market again.. In these days everyone active and keep eye on AINV. PCP . PCHH . CLPL.. Its good for cse..
Agreed... Smile 

Meman


Manager - Equity Analytics
Manager - Equity Analytics

I think AINV is what should be looked at

Jiggysaurus

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

Meman wrote:I think AINV is what should be looked at

If only you had properly looked at Mrs Adam in your younger days we could be talking about meman's investments instead of AINV.

Meman


Manager - Equity Analytics
Manager - Equity Analytics

Jiggysaurus wrote:
Meman wrote:I think AINV is what should be looked at

If only you had properly looked at Mrs Adam in your younger days we could be talking about meman's investments instead of AINV.

I was looking at her sister then  Sad Sad  Well even that did not work out.

Universalgoal


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

why adam not interest on PCH  Sleep Sleep 

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