E.B. Creasy announces key dates for Rs. 1. 5 b Rights Issue

Wednesday, 22 October 2025 00:04 - - {{hitsCtrl.values.hits}}

E.B. Creasy & Company PLC yesterday announced the schedule for its upcoming Rights Issue of shares to raise Rs. 1.52 billion.

The Extraordinary General Meeting (EGM) is set for 11 November 2025, with the ex-rights (XR) date on 12 November and record date/provisional allotment on 13 November. Provisional Letters of Allotment will be dispatched on 20 November, and trading of Rights will commence on 26 November 2025.

The last date for renunciation to the Central Depository System (CDS) is 3 December 2025, while the final date for acceptance and payment for Rights is 9 December 2025. The company noted that no book-closure dates apply to this issue.

The Rights Issue is on the basis of 1 for every 10 held at Rs. 60 each, resulting in the issuance of 25,354,580 shares. The current stated capital stands at Rs. 25,730,205.

Rs. 1 billion from the Rights Issue proceeds will be used to settle short-term interest-bearing borrowings and Rs. 500 million will be invested in subsidiary company Darley Butler & Co. Ltd.

Short-term loans and borrowings at end-June 2025 stood at Rs. 1.39 billion, down from Rs. 1.44 billion at company level, and Rs. 4.58 billion at Group level, down from Rs. 5.16 billion in the previous quarter.

The net asset value per share was Rs. 31.12 at end-June 2025, up from Rs. 24.82 as at end-March 2025

The Colombo Fort Land and Building PLC holds 52.98%, with Senthilverl Holdings PLC owning 15.71%. The public float of E.B. Creasy is 23.86%, held by 1,647 shareholders as at end-June 2025.

The company reported consolidated earnings of Rs. 316.5 million in the June 2025 quarter, up 79% from a year ago.

The company yesterday said that during July 2025, the share traded between a high of Rs. 72 and a low of Rs. 45, closing the month at Rs. 61. In August, the stock maintained the same monthly high of Rs. 72, with the lowest price rising to Rs. 59.90 and the final traded price reaching Rs. 68. By September 2025, the share recorded a higher monthly peak of Rs. 76, a low of Rs. 64.70, and closed at Rs. 69.90.

The share close yesterday at Rs. 69.90.