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01 Jul 2013
19:52:15
Tokyo Cement to offer new shares through a Capitalization of Reserves
Jul 01, 2013 (SLBO) - Tokyo Cement Company Lanka PLC (TKYO) in a filing to Colombo Bourse disclosed that at the board meeting held at 10 a.m. on 29th June 2013 it was decided to issue fully paid one ordinary voting share for every 10 voting shares and one ordinary non voting share for every 10 non-voting shares held by existing shareholders by way of a Capitalization of Reserves. It further noted that the new issue is yet to be approved by the Exchange and the shareholders at a General Meeting.
Accordingly the company said it will issue 20.25 million voting shares and 10.125 million non-voting shares and that such shares will rank equally and pari passu in all aspects with existing voting and non-voting shares but with the right to participate in any dividends from the financial year 2013/14 onwards.
Company also said that current share capital of the company is represented by 202.5 million voting shares and 101.25 milion non-voting shares that has a stated capital of nearly Rs. 2.366 billion.
Company said the new shares both voting and non-voting will be valued at Rs.17.35 each and accordingly a sum of over Rs.527.006 million from and out of of the company's Revenue Reserves account will be capitalized based on the company's Balance Sheet Date as at 31 March 2013.
Accordingly the company said it will issue 20.25 million voting shares and 10.125 million non-voting shares and that such shares will rank equally and pari passu in all aspects with existing voting and non-voting shares but with the right to participate in any dividends from the financial year 2013/14 onwards.
Company also said that current share capital of the company is represented by 202.5 million voting shares and 101.25 milion non-voting shares that has a stated capital of nearly Rs. 2.366 billion.
Company said the new shares both voting and non-voting will be valued at Rs.17.35 each and accordingly a sum of over Rs.527.006 million from and out of of the company's Revenue Reserves account will be capitalized based on the company's Balance Sheet Date as at 31 March 2013.
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