Amãna Bank receives shareholder endorsement for Rights Issue

amana-bank

The shareholders of Amãna Bank unanimously passed the resolution to increase the Bank’s stated capital by way of a Rights Issue at the Extraordinary General Meeting held yesterday (4 July 2017).

According to the resolution, the Bank will issue 1,250,695,267 new ordinary shares at Rs. 3.80 per share in the proportion of 1 new ordinary share for every 1 ordinary share held (1:1). Upon full subscription, the issue will increase the Stated Capital of the Bank from Rs. 5.8 billion to Rs. 10.6 billion, thereby meeting the regulatory Rs. 10 billion requirement well ahead of the January 2018 deadline. All shareholders who have purchased Amãna Bank shares as at end of trading on 4 July 2017, will be entitled for Rights, along with a provision to request for additional shares.

The Provisional Letters of Allotment will be dispatched to shareholders on 10 July 2017. Trading of the Rights Shares (ABL.R) shall commence on the Fourth (4th) Market Day from and excluding the date of dispatch of Letters of Provisional Allotment. Such trading shall continue throughout the period of renunciation to the CDS (from 14 July 2017 to 21 July 2017). The last date of acceptance and payment for Rights is 24 July 2017.




About us

Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country. We present not only the news, but a perspective based on observations and possible implications of a prevailing news item. LBN also provides an insight to the impact of a global economic or industrial development, thus helping stakeholders make informed and calculated decisions.




Follow Us


Newsletter