The Board of Directors of United Motors Lanka Plc yesterday resolved to proceed with a sub division of one share for every one share held in the Company.
At present the number of UML shares in issue is 33,633,542 and post sub division will increase to 67,267,084. The move, which will not change the stated capital, is subject to shareholder approval.
Share price of UML yesterday rose by Rs. 2.50 to close at Rs. 220.70.