Court gives nod to call EGM for Distilleries restructure

4 August 2016 10:10 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Commercial High Court has given its nod for Distilleries Company of Sri Lanka PLC (DCSL) to call an Extraordinary General Meeting (EGM) to seek shareholder approval for the major company restructuring that was announced last week by way of a share swap.  


Accordingly, the EGM is scheduled to be conducted on September 6, 2016, DCSL said in a statement. 

K. Kanag Iswaran, PC appeared for DCSL PLC instructed by Upendra Gunasekara, attorney-at-law, Nihal Fernando PC instructed by Sachithra Dissanayake, attorney-at-law appeared for Melstacorp Limited. 


In a Colombo Stock Exchange (CSE) filing last Monday DCSL said it was seeking the approval of the courts, its shareholders and of the regulatory authorities to reorganize the company by making Melstacorp Limited its holding company.  


According to the said announcement, once the required approvals are in place, Melstacorp Limited intends to issue four of its shares in exchange for a share of DCSL, making it the holding company of the DCSL group.  Melstacorp Limited is also planning to seek a listing on the CSE to provide the required liquidity to its shareholders.  

 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Bio Bubble Bursts on tissa safari drivers

Ukrainian tourists are visiting Sri Lanka at present with the involvement of

Army’s LRRP Ambush of LTTE’s Military Intelligence Chief

A news report in the Dailymirror last August stated that the Long Range Recon

“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.