Consortium of Investors partly sells out of Nation Lanka Finance (CSF)

CHRONICLE™

CHRONICLE™

Admin

Posts : 363
Equity Stars : 6026
Reputation : 10
Join date : 2010-05-08

Mr J. Rudra, a prominent member of the consortium of investors who invested in Nation Lanka Finance PLC (CSF), today sold out part of his shareholding at a hefty capital gain of approximately Rs 25/= per share. This is contrary to the assurance and the undertaking given by the consortium at the time of private placement in which shares were issued at a discounted price of Rs 5/= per share. Current trading price of CSF is Rs 31/= per share.

Please find below the CSE announcement
http://www.cse.lk/cmt/upload_cse_announcements/8031306836573_.pdf

CSE Today

CSE Today

Manager - Equity Analytics

Posts : 236
Equity Stars : 5231
Reputation : 86
Join date : 2011-02-14

It was a Private Placement and not a sell out...so how can Mr Jayaprakash Rudra sell a part of his holding before 1 year...!

SEC..,here is a clear breach of Lock up Rule.... Take action or should we call SEC a toothless Tiger...?

factFINDER

factFINDER

Manager - Equity Analytics

Posts : 158
Equity Stars : 5349
Reputation : 41
Join date : 2010-05-27
Age : 45
Location : Colombo

CSE Today wrote:It was a Private Placement and not a sell out...so how can Mr Jayaprakash Rudra sell a part of his holding before 1 year...!

SEC..,here is a clear breach of Lock up Rule.... Take action or should we call SEC a toothless Tiger...?

Is that LOOK UP RULE for all Private Placements or Pre-IPO PPs??

NAPS 0.98
ESP (-5.21)

Most important question is who brought those shares at 31/-?? Any strategic investor or our foolish retailers??

CSE Today

CSE Today

Manager - Equity Analytics

Posts : 236
Equity Stars : 5231
Reputation : 86
Join date : 2011-02-14

factFINDER wrote:

Is that LOCK UP RULE for all Private Placements or Pre-IPO PPs??

well a good point...we'll have to check that...!

mark

mark

Expert

Posts : 2677
Equity Stars : 9754
Reputation : 423
Join date : 2011-02-04
Age : 33
Location : Hell....

factFINDER wrote:

CSE Today wrote:It was a Private Placement and not a sell out...so how can Mr Jayaprakash Rudra sell a part of his holding before 1 year...!

SEC..,here is a clear breach of Lock up Rule.... Take action or should we call SEC a toothless Tiger...?

Is that LOOK UP RULE for all Private Placements or Pre-IPO PPs??

NAPS 0.98
ESP (-5.21)

Most important question is who brought those shares at 31/-?? Any strategic investor or our foolish retailers??

ha ha haaaaaaaaaaaa............ Evil or Very Mad

dumb retailers........

CSE Today

CSE Today

Manager - Equity Analytics

Posts : 236
Equity Stars : 5231
Reputation : 86
Join date : 2011-02-14

CSE Today wrote:

factFINDER wrote:

Is that LOCK UP RULE for all Private Placements or Pre-IPO PPs??

well a good point...we'll have to check that...!

Ooooops my mistake...CSF Private Placement is not under 1 year lock up rule as it was made before the Implementation date of the Lock up rule...!

But for your point "Lock up applicable to Pre IPO only or not" ...have to talk to my broker tomorrow...!

pushpakumara

pushpakumara

Senior Manager - Equity Analytics

Posts : 312
Equity Stars : 5104
Reputation : 8
Join date : 2011-04-13

Will that be the end of rally?

UKboy

UKboy

Senior Vice President - Equity Analytics

Posts : 1943
Equity Stars : 7340
Reputation : 391
Join date : 2011-02-08
Location : Earth

factFINDER wrote:
Most important question is who brought those shares at 31/-?? Any strategic investor or our foolish retailers??

Most porbably strategic investors exit & our poor investors come in.
That is the normal pattern. Very Happy

Monster

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8186
Reputation : 279
Join date : 2011-01-22

Mr Rudra sells another lots of 100,000 shares of CSF. Dumb retailers are still collecting.. Evil or Very Mad

http://www.cse.lk/cmt/upload_cse_announcements/721309864534_.pdf

seyon

seyon

Assistant Vice President - Equity Analytics

Posts : 783
Equity Stars : 5862
Reputation : 119
Join date : 2011-02-01
Location : Colombo

Monster wrote:Mr Rudra sells another lots of 100,000 shares of CSF. Dumb retailers are still collecting..
http://www.cse.lk/cmt/upload_cse_announcements/721309864534_.pdf

Today disclosures that He has acquired shares not sold, Funny game He is playing selling big parcel @ 30 level and buying 100,000 @ 25

Sometimes this may mislead the investors.

Last edited by seyon on Tue Jul 05, 2011 5:12 pm; edited 1 time in total

Monster

Monster

Senior Vice President - Equity Analytics

Posts : 1708
Equity Stars : 8186
Reputation : 279
Join date : 2011-01-22

seyon wrote:

Monster wrote:Mr Rudra sells another lots of 100,000 shares of CSF. Dumb retailers are still collecting..
http://www.cse.lk/cmt/upload_cse_announcements/721309864534_.pdf

Today disclosures that He has acquired shares not sold, What a funny game.

oops, it was my mistake. I didn't read it properly. Crying or Very sad

By looking at the title I thought it was a selling. Very Happy

mark

mark

Expert

Posts : 2677
Equity Stars : 9754
Reputation : 423
Join date : 2011-02-04
Age : 33
Location : Hell....

seyon wrote:

Monster wrote:Mr Rudra sells another lots of 100,000 shares of CSF. Dumb retailers are still collecting..
http://www.cse.lk/cmt/upload_cse_announcements/721309864534_.pdf

Today disclosures that He has acquired shares not sold, Funny game He is playing selling big parcel @ 30 level and buying 100,000 @ 25

Sometimes this may be mislead the investors.

i dont get this,is this a sale or buy?
one place its a buy,and the down it is a sell....... scratch

ranga

ranga

Senior Equity Analytic

Posts : 54
Equity Stars : 4934
Reputation : 2
Join date : 2011-01-31

It's buy.....
today announcement says he has Acquired.
http://www.cse.lk/cmt/uploadAnnounceFiles/9911309864766_368.pdf

earlier report says he has disposed.
http://www.cse.lk/cmt/uploadAnnounceFiles/5261306997630_368.pdf

so its clear he has brought 100000 shares around 25Rs.

Quibit

Quibit

Senior Vice President - Equity Analytics

Posts : 2661
Equity Stars : 11282
Reputation : 380
Join date : 2010-05-08

Director Rudra sells CSF shares just before the quarterly results are announced and now buys back the same shares at a lower price. Who had lost money? This is an excellent case study for insider dealing. Why SEC silent?

MarketResearch · 15 Rudra clarifies CSF trades Thu Jul 07, 2011 6:40 am

MarketResearch

Assistant Vice President - Equity Analytics

Posts : 602
Equity Stars : 5866
Reputation : 110
Join date : 2011-01-30
Location : Colombo

Rudra clarifies CSF trades
Responding to our story in yesterday’s issue titled “Rudra continues to exit from CSF’, a key investor of Nationa Lanka Finance (CSF) Jayaprakash Rudra in a letter informed Mirror Business that he has purchased 100,000 shares of CSF at a price ranging from Rs.24.70 to Rs.25.

Meanwhile, in another filing CSF said to Colombo Stock exchange that although the company had clearly stated Rudra acquired the shares in the first filing in the July 4 letter, due to an oversight CSF Secretaries have mentioned the ‘Sale Price’ instead of Purchase Price.

However as per Colombo Stock exchange data on June 1 and May 31 filings, Jayaprakash Rudra has shed a total of 850,000 shares of CSF for a consideration of Rs.24.6 million in the price range of Rs.29 to Rs.29.10 per share on May 31, and another 580,800 shares of CSF at a price ranging from Rs.29.80 to Rs.30.20 on May 30.

source - www.dailymirror.lk

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Consortium of Investors partly sells out of Nation Lanka Finance (CSF)

1 Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 6:05 pm

CHRONICLE™

2 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 9:04 pm

CSE Today

3 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 9:17 pm

factFINDER

4 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 9:24 pm

CSE Today

5 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 9:40 pm

mark

6 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 10:30 pm

CSE Today

7 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 11:19 pm

pushpakumara

8 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue May 31, 2011 11:24 pm

UKboy

9 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue Jul 05, 2011 4:48 pm

Monster

10 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue Jul 05, 2011 5:07 pm

seyon

11 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue Jul 05, 2011 5:11 pm

Monster

12 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue Jul 05, 2011 5:12 pm

mark

13 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Tue Jul 05, 2011 5:22 pm

ranga

14 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF) Wed Jul 06, 2011 8:20 am

Quibit

15 Rudra clarifies CSF trades Thu Jul 07, 2011 6:40 am

MarketResearch

16 Re: Consortium of Investors partly sells out of Nation Lanka Finance (CSF)

Sponsored content

New topics