Janashakthi Plc to merge with Sri Lanka’s Dunamis Capital
ECONOMYNEXT- Sri Lanka’s Janashakthi Plc will buy out minority shareholders of Dunamis Capital at 48.30 rupees a share and merge with the subsidiary, the companies said.
“We wish to inform you that the said amalgamation shall take place such that the shares of Dunamis Capital PLC held byJanashakthi PLC shall be cancelled without payment or other consideration and vice-a-versa,” Dunamis Capital said in a stock exchange filing.
“Persons other than Janashakthi PLC shall be cancelled upon the transfer of the ‘ payment of LKR 48.30 per share due to each holder of such shares to a trust.”
Debentures of the firm will continue to trade under the same code, until they are redeemed, the firm said. ICRA rated Dunamis Capital BBB-.
Dunamis Capital closed at 48.30 rupees on September 30. (Colombo/Oct02/2019)