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Dhammika ups stake in Hayleys

2 December 2015 05:23 am - 0     - {{hitsCtrl.values.hits}}

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The high-net-worth individual, Dhammika Perera has increased its stake in the diversified conglomerate, Hayleys PLC to 50.15 percent from 49.71 percent. 
Perera has bought 327, 861 shares of the company in two share parcels – 210, 809 and 117, 052, together accounts for 0.44 percent stake on November 16 and 18 respectively. 

As of November 15, 2015, Perera, together with his parties acting in concert held 49.71 percent, including 2.91 percent stake held by Perera’s investment holding company, Vallibel One PLC. 

Hayleys PLC share is trading at Rs.310 at the Colombo Stock Exchange. 

On November 20, the Finance Minister, Ravi Karunanayake  proposed to remove the import tariff protection for highly profitable domestic ceramic tile manufacturers, as a measure to crackdown on an effective monopoly of the Royal Ceramics group, controlled by Perera.

As of September 30, 2015, Perera controlled 51 percent of Royal Ceramics Lanka PLC through Vallibel One PLC. 

Perera’s increase stake in Hayleys PLC does not trigger a mandatory offer of the Takeovers & Mergers Code of the Securities and Exchange Commission because Perera upped his stake by only 0.44 percent, which is less than the 2 percent limit allowed in a year. 

According to the Code, if an investor, together with persons acting in concert holds between 30 percent and 50 percent of an entity and such parties purchases a further stake above 2 percent, in any period of 12-months, such person should extend a mandatory offer for the remaining shareholders within 35-days. 

However, if such person or any persons acting in concert with him already has 50 percent stake, any additional increase in stake will not require mandatory offers. 

Hayleys PLC, for the six months ended September 30, 2015 posted a net profit of Rs. 1.15 billion (EPS of Rs.15.36), up 20 percent from a year ago. (CW)
    
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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.

 


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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.

 


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