Kerner Haus proposes 1-for-70 share subdivision

Thursday, 12 March 2026 04:18 - - {{hitsCtrl.values.hits}}

Kerner Haus Global Solutions PLC said its Board of Directors has resolved to recommend a subdivision of the company’s ordinary voting shares in a move aimed at increasing the number of shares in issue.

The decision was taken at a Board meeting held on 6 March 2026, according to a disclosure made to the Colombo Stock Exchange. Under the proposed subdivision, each existing ordinary voting share will be subdivided into 70 ordinary voting shares.

As a result, the number of issued ordinary voting shares will increase from 600,170 prior to the subdivision to 42,011,900 shares following the exercise.

The company said there will be no change to its existing stated capital, which will remain at Rs. 30,358,500 after the subdivision.

The proposed share subdivision is subject to the concurrence of the Colombo Stock Exchange and approval by shareholders through an ordinary resolution at an Extraordinary General Meeting.

The company’s share prices ended Friday down Rs. 74 at Rs. 2,381.50. The company reported net liabilities of Rs. 76 per share as at end-December 2025. Ekta Global Ltd. was the largest shareholder with a 63.62% stake followed by the Sir Chittampalam A. Gardiner Trust (4.64%), Cyril Gardiner Ltd. (4.34) and D. P. Navaratnam (4.04%) on a public float of 27.40%.