Tess Agro goes for Rights Issue

Friday, 20 September 2013 03:07 - - {{hitsCtrl.values.hits}}

Tess Agro (TESS) has announced a Rights Issue and Capitalization of Reserves move. The Rights Issue will be at Rs.1.50 per share; 01 ordinary voting share for every 03 ordinary voting share held and Rights Issue at Rs.0.90 per share; 01 ordinary non-voting share for every 06 ordinary voting share held. Funds raised from the Rights Issue, will be utilized to invest in its Muthurajawela property development and to finance its working capital needs for its newly commenced EU branch. This is subject to approval. Capitalization of reserves will be up to Rs.90 million capital reserves, consisting of 90 million shares. This is too subject to approval.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.