Hemas ups Morison stake to 90%

Wednesday, 24 July 2013 01:02 - - {{hitsCtrl.values.hits}}

Hemas Holdings Plc via subsidiary has garnered a further 18.5% stake in J.L. Morison Son and Jones (Ceylon) Ltd., increasing their overall holding to 90%. The additional stake is via the mandatory and voluntary offers which concluded last week. The offer by Hemas Manufacturing Ltd., (HML), a subsidiary of Hemas Holdings, at Rs. 366.50 per voting share and Rs. 219.70 per non-voting share had elicited an acceptance amounting to 1.1 million voting shares or 18.51% stake and 0.6 million non-voting shares (34.7%). Separately, HML held 4.2 million voting shares (71.5%) and 0.9 million non-voting shares (50.1%) of MORI. Consequently, HML has increased its stake in MORI to 90.0% (voting) and 84.8% (non-voting). In May, HML acquired 4.153 million voting shares (71.5%) for Rs. 1.52 billion and 0.87 million nonvoting shares (50%) for around Rs. 190 million.

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.