01-Jun-2011 Reference Price - COCR
The reference price of LKR. 25.40/= in respect of the ordinary voting shares has been decided upon by the Company.
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Does anyone know how this reference price was determined ?
Commercial Credit has 218 million shares in issue, and based on its unaudited 9 month results at 31st dec 2010, its book value per share is LKR 2.3 and its 9 month EPS is LKR 0.8
- So how did this 'reference price' of LKR 25.4 come ?
3 million shares traded today between LKR 25 - 45, with 2 million being traded at the market opening at LKR 25, with the promoters clearly being the sellers. Did they take advantage of the 'reference price' ?