Softlogic Capital to reduce stated capital

Friday, 30 January 2015 01:05 - - {{hitsCtrl.values.hits}}

The Board of Directors of Softlogic Capital PLC (SCAP) has resolved to effect a reduction in the stated capital of the company by a proposed sum of Rs. 618.5 million, subject to shareholder approval at an Extraordinary General Meeting (EGM) on 6 March. SCAP cited its intention to reduce accumulated losses of the company as the reason for the lowering of its stated capital however it stressed that the approximate 688.2 million shares in issue would remain unchanged. The company’s current stated capital stands at approximately Rs. 3.5 billion. Consequent to the proposed reduction, stated capital will stand at Rs. 2.88 billion. The company posted a loss of Rs. 11.1 million during the quarter ended 30 September 2014, narrowing down from a loss of Rs. 55.9 million in 2013.

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.