Thursday, 03 July 2014 - DailyFT
Adam Investments gets bullish, triggers two takeovers on PCHH, PC Pharma
Reflecting its bullishness on equities as well as its sectors, new kid Adam Investments Ltd. yesterday triggered two takeovers involving PCH Holdings Plc (PCHH) and PC Pharma Plc. (PCP).
It acquired 83 million shares or 33% of diversified holdings PCHH, thereby increasing its stake to nearly 43%, whilst on PCP it bought 5.5 million shares or 5.4%, effectively upping its stake to 31.15%. The SEC Takeovers and Mergers Code threshold is 30%.
PCHH saw in total 95.7 million of its shares traded for Rs. 192 million, thereby becoming the second highest in terms of turnover.
PCHH finished the day at Rs. 2.10, up by 30 cents (it hit an intra-day high of Rs. 2.20) whilst PCP, which saw 13.7 million of its shares traded, closed 20 cents down to Rs. 1.90 after hitting an intra-day high of Rs. 2.
Adam Investments last week bought a 26% stake in PCP for Rs. 37 million with previous largest owner British American Technologies Ltd. being among major sellers.
Previous controlling shareholder of PCHH was its Chairman S.H.M. Rishan via his Dynaris Holdings Ltd., and personal holding pledged to NDB as of end December 2013.
Orient Garments also saw some activity with 1.3 million shares traded and price up Rs. 7.80 to close at Rs. 27.10 with speculation rife that a related party to Adam was on the buying side. Adam holds a 40% stake in Orient Garments Adam Investments’ strategy appears to be consolidation and optimism of reviving both PCHH and PCP.
Adam, which had its debut on the CSE in early June, also has equity investments in Ceylon & Foreign Trades Plc and substantial shares of private limited liability companies, namely Network Communications Ltd., Adam Metals Ltd., Adam Apparels Ltd., Adam Automobiles Ltd. and Adam Air Conditions Ltd.
Adam, which raised Rs. 300 million via its IPO at Rs. 3 per share, yesterday saw its share price peak to Rs. 5 before closing at Rs, 4.90, up by 20 cents.
Adam Investments’ Board of Directors – led by Dr. Ali Asger Shabbir Gulamhusein – believes uniting these entities under the Adam Investments umbrella will strengthen all, allowing each company to thrive in their respective sectors while synergies and streamlined management practices between companies could help create a sustainable environment for growth and excellence.
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Thursday, 26 June 2014 - DailyFT
Adam Investments buys 26% stake in PC Pharma for Rs. 37 m
New kid on the block, Adam Investments Ltd. has bought a 25.7% stake or 25.962 million shares in PC Pharma Plc Ltd., adding another associate to its growing profile.
The acquisition of the stake estimated at a cost of Rs. 37 million was over three days. On Monday it picked up an 18% stake at a cost of Rs. 24 million. Price paid ranged between a high of Rs. 1.50 per share for a block of 3.5 million shares and a low of Rs. 1.20 each for the block of 10.43 million shares. Subsequent stakes however had been at a slightly higher price.
On Monday nearly 25 million shares of PC Pharma traded between a low of Rs. 1.10 and a high of Rs. 1.60 before closing at Rs. 1.40, up by 20 cents. On Tuesday 12 million shares traded and the share price closed at Rs. 1.80. Yesterday around seven million PC Pharma shares traded before closing at the same price though hitting an intra-day high of Rs. 1.90.
On Monday the major seller was British American Technologies, which divested a 16% stake. Rest of the stake had been collected from the market by Adam. PC Pharma’s Chairman S.H.M. Rishan has over a 20% stake under his name whilst PCH Holdings holds a 28% stake. In the first nine months of FY14, PC Pharma made a Rs. 102 million loss and had retained loss of Rs. 71.5 million. Investment into PC Pharma is the second most recent by Adam after it acquired controlling stake of 40% in Orient Garments Plc and a 10% stake in PC House Holdings Plc. Adam is seeing potential for revival and value in PC Pharma hence the investment.
Adam, which had its debut on the CSE in early June, also has equity investments in Ceylon & Foreign Trades Plc and substantial shares of private limited liability companies, namely Network Communications Ltd., Adam Metals Ltd., Adam Apparels Ltd., Adam Automobiles Ltd. and Adam Air Conditions Ltd.
Adam, which raised Rs. 300 million via its IPO at Rs. 3 per share, yesterday saw its share price peak to Rs. 5 before closing at Rs, 4.90, up by 20 cents.
Adam Investments’ Board of Directors – led by Dr. Ali Asger Shabbir Gulamhusein – believes uniting these entities under the Adam Investments umbrella will strengthen all, allowing each company to thrive in their respective sectors while synergies and streamlined management practices between companies could help create a sustainable environment for growth and excellence.
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Thursday, 26 June 2014 - Lanka Business Online
Adam Investments ups stake in Sri Lanka pharma company
June 26, 2014 (LBO) - Adam Investments Ltd, said it had increased a stake in PC Pharma Ltd, a pharmaceuticals company, to 25.7 percent by purchasing shares over the past two days.
Adam Investments said it bought 4.4 million shares on June 24 and 2.9 million shares in June 25 adding to recent purchases of stock in the company, the firm said in a stock exchange filing.
The firm had paid prices of 1.60 rupees and 1.70 rupees for the stock.
On June 25, Adam Investments said it had bought 18.5 million shares at prices ranging from 1.20 to 1.60 rupees.
On June 24, PCH Holdings said it had sold 500,000 shares at 1.20 rupees.Accordingly, between 23 and 25 June 2014 Adam Investments Limited has bought 25.9 million ordinary voting shares of PC Pharma PLC Limited.
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Thursday, 26 June 2014 - AdaDerana
Adam Investments gains 25% ownership of PC Pharma
Adam Investments Limited has bought 25.71 percent ordinary voting shares of PCH Holdings subsidiary PC Pharma PLC Limited which imports medicinal drugs and medical equipment to Sri Lanka.
Accordingly, between 23 and 25 June 2014 Adam Investments Limited has bought 25.9 million ordinary voting shares of PC Pharma PLC Limited.
While these shares had been bought at values ranging from Rs. 1.20 to Rs. 1.50 each, Adam Investments said it had bought 18.5 million shares of PC Pharma on 23 June 2014.
Source»
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