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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Vallibel Finance (VFIN) will never merge with LB Finance (LFIN) - Group Directors earlier reports

Vallibel Finance (VFIN) will never merge with LB Finance (LFIN) - Group Directors earlier reports

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DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Followed by an untimely, unreliable news report that said LB Finance (LFIN) will merge with Vallibel Finance (VFIN) by former Editor of Bhimputh Group owned Digatha News and Corporate Publicity Head of Bhimputh Lanka Finance, Junior Lawyer H.D.H Senewiratne (who had shares from Bhimputh Private Placement prior to IPO) who currently works at Daily News, VFIN share skyrocketed with retail interest rising by over Rs.4.10 (11.17%) to nearly Rs.40.80 per share.

The report in Daily News quoted former Capital Alliance Stockbrokers employee  Dimantha Mathew who is now employed at First Capital Stockbrokers.

Earlier Nimal Perera and Dhammika Perera, top Directors of Vallibel Finance as well as Central Bank sources have already said in reports that Vallibel Finance and LB Finance will not be merged where as Vallibel will separately look to merge with other smaller finance companies.

Insiders say that Dimantha had some VFIN quantities which he wanted to divest at a profit and that H.D.H Senewiratne wrote a report with an indirect financial interest which could be challenged in the courts of Sri Lanka amidst Senewiratne being a Junior Lawyer.



Last edited by DealKing on Wed Jul 16, 2014 12:57 pm; edited 2 times in total

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics

DealKing wrote:Followed by an untimely, unreliable news report that said LB Finance (LFIN) will merge with Vallibel Finance (VFIN) by former Editor of Bhimputh Group owned Digatha News and Corporate Publicity Head of Bhimputh Lanka Finance, Law Student H.D.H Senewiratne (who had shares from Bhimputh Private Placement prior to IPO) who currently works at Daily News, VFIN share skyrocketed with retail interest rising by over Rs.4.10 (11.17%) to nearly Rs.40.80 per share.

The report in Daily News quoted former Capital Alliance Stockbrokers employee  Dimantha Mathew who is now employed at First Capital Stockbrokers.

Earlier Nimal Perera and Dhammika Perera, top Directors of Vallibel Finance as well as Central Bank sources have already said to reports that Vallibel Finance and LB Finance will not be merged where as Vallibel will separately look to merge with other smaller finance companies.

Thank you for the information. I think your directors should make an announcement to CSE so that speculation could be minimized.

DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Sstar wrote:
DealKing wrote:Followed by an untimely, unreliable news report that said LB Finance (LFIN) will merge with Vallibel Finance (VFIN) by former Editor of Bhimputh Group owned Digatha News and Corporate Publicity Head of Bhimputh Lanka Finance, Law Student H.D.H Senewiratne (who had shares from Bhimputh Private Placement prior to IPO) who currently works at Daily News, VFIN share skyrocketed with retail interest rising by over Rs.4.10 (11.17%) to nearly Rs.40.80 per share.

The report in Daily News quoted former Capital Alliance Stockbrokers employee  Dimantha Mathew who is now employed at First Capital Stockbrokers.

Earlier Nimal Perera and Dhammika Perera, top Directors of Vallibel Finance as well as Central Bank sources have already said to reports that Vallibel Finance and LB Finance will not be merged where as Vallibel will separately look to merge with other smaller finance companies.

Thank you for the information. I think your directors should make an announcement to CSE so that speculation could be minimized.

Yes Sstar, they are not my directors. I just shared proper information. Infact I just called SEC and CSE to question the same and why DP,NP didn't disclose anything about the news report and why they didn't respond leaving to manipulation of the stock.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Will the latest news be caused to bring down the VFIN price at Rs.35-36 level? However, observing the past & current performance of the company, this will be a profit realizing counter for investors in the future.

stevenapple


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

Shocked  Rolling Eyes  Rolling Eyes  scratch  scratch

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