eChannelling goes for Rs. 93.7 m capital reduction to recoup losses

Monday, 11 October 2010 23:36 -     - {{hitsCtrl.values.hits}}

ECHANNELLING Plc’s Board has resolved to effect a capital reduction worth Rs. 93.7 million to recoup accumulated losses of the Company.



Its current stated capital is Rs. 187.5 million whilst as at 31 March, 2010, the Company had Rs. 117 million in retained losses. Sri Lanka Insurance Corporation owns 23% stake in eChanneling whilst the second largest shareholder is British American Technologies with 12%.

The Company’s share price closed at Rs. 18.70, up by 50 cents.

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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.