LB Finance-AMF amalgamation to take effect on 31 July

Monday, 6 July 2026 04:36 - - {{hitsCtrl.values.hits}}

AMF shares to be suspended from trading after market close on 27 July

Associated Motor Finance Company PLC (AMF) yesterday announced that its amalgamation with parent company LB Finance PLC will take effect on 31 July, marking the completion of the finance sector consolidation following regulatory and shareholder approvals.

The company said its shares will be suspended from trading on the Colombo Stock Exchange from the close of market on 27 July ahead of the amalgamation becoming effective.

The merger follows an earlier announcement by LB Finance that it would amalgamate with its listed subsidiary, subject to approval by shareholders of both companies through special resolutions at Extraordinary General Meetings.

The transaction has also received the approval of the Governing Board of the Central Bank of Sri Lanka.

Under the agreed terms, AMF shares will not be converted into LB Finance shares. Instead, shareholders of AMF other than LB Finance will receive a cash consideration of Rs. 55 per share.

Upon completion of the amalgamation, the shares held by LB Finance in AMF will be cancelled in accordance with Section 240(3)(a) of the Companies Act, No. 7 of 2007.

LB Finance currently holds a 73% stake in AMF, following the completion of a voluntary offer made late last year at Rs. 50 per share. The amalgamation will result in AMF ceasing to exist as a separate listed entity, with its business and assets being absorbed into LB Finance.