SEMB Announcments

roshanalv · 1 SEMB Announcments Fri Jun 17, 2011 7:45 pm

roshanalv

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Guys whats going on with SEMB !!!

http://www.cse.lk/cmt/upload_cse_announcements/9551308309108_.pdf
http://www.cse.lk/cmt/upload_cse_announcements/1341308305327_.pdf

Directors are resigning & selling their stocks . Any idea why ?

Last edited by milanka on Fri Jun 17, 2011 9:21 pm; edited 1 time in total (Reason for editing : Removed unnecessary !!)

kam2011 · 2 Re: SEMB Announcments Fri Jun 17, 2011 9:04 pm

kam2011

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Dear friend, I also noted this move.

Dr. S has sold 3,246,00 SMBN shares on 10th June. However As per Financial reports as at 31.03.2011 He had 197,327,224 shares. If I am correct after 31st March He has purchased around 10mln shares.Accordingly total shares he held before 10th June around 207 mln. Therefore disposal of 3.246 mln shares is not effetive that much. According to the annoucements made so far Dr. S has not resigned from the board. But CEO Mr. Fernando will be resigned on 13.10,2011 and Independed Director Mr.Renganadan will also be resigned on 1st July2011.

However we do not know yet reasons for these developments. Even today SMBN shares were sold at 2.50 level while SMBW.15were sold at 1.30 level. Is there any other party interesting to buy SMB shares with an intension to take control?
I have noted some interesting item in the financial reports. Emagewise Ltd/Pan Asia bank also come under the 20 major share holders(Voting) list of SEMB from sep 2010 . Everybody knows that who is controling that company.This is one of the important matters to monitor closely.

roshanalv · 3 Re: SEMB Announcments Fri Jun 17, 2011 9:15 pm

roshanalv

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Thanks valuable information provided. Pl keep us inform the latest developments. Cheers.

Monster · 4 Re: SEMB Announcments Fri Jun 17, 2011 9:25 pm

Monster

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kam2011 wrote:Dear friend, I also noted this move.

Dr. S has sold 3,246,00 SMBN shares on 10th June. However As per Financial reports as at 31.03.2011 He had 197,327,224 shares. If I am correct after 31st March He has purchased around 10mln shares.Accordingly total shares he held before 10th June around 207 mln. Therefore disposal of 3.246 mln shares is not effetive that much. According to the annoucements made so far Dr. S has not resigned from the board. But CEO Mr. Fernando will be resigned on 13.10,2011 and Independed Director Mr.Renganadan will also be resigned on 1st July2011.

However we do not know yet reasons for these developments. Even today SMBN shares were sold at 2.50 level while SMBW.15were sold at 1.30 level. Is there any other party interesting to buy SMB shares with an intension to take control?
I have noted some interesting item in the financial reports. Emagewise Ltd/Pan Asia bank also come under the 20 major share holders(Voting) list of SEMB from sep 2010 . Everybody knows that who is controling that company.This is one of the important matters to monitor closely.

Very good observation. +Rep from me

stumpy · 5 Re: SEMB Announcments Sat Jun 18, 2011 8:22 am

stumpy

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mmm.... thank you! thank you!

Wink

mark · 6 Re: SEMB Announcments Sat Jun 18, 2011 8:12 pm

mark

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to pass a special resolution 75% votes needed,reduction of capital on the way..
lets see.......

kam2011 · 7 Re: SEMB Announcments Sat Jun 18, 2011 11:46 pm

kam2011

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Friends, I believe this a good counter to watch. I want to tell you that I earned a lot from this share during the last few weeks as I noticed it's(SMBN AND SMBW15) healthy fluctuation for day trading. Anyone who likes such short term trading expecting marginal profit this is a good share.