Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Citizens Development Business Finance to initiate amalgamation process
Tue, Apr 9, 2019, 09:42 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 09, Colombo: Citizens Development Business Finance PLC in a disclosure to the Colombo Stock Exchange under section 8 of the listing rules informed that the Central Bank of Sri Lanka (CBSL) requires the company to amalgamate Unisons with the Company to comply with the regulatory requirements.

The Company shareholding in Capital Leasing Limited and Fortune Properties Limited is 90.38% and 99.98% respectively.

Accordingly the Board of Directors of the Company have resolved on April 8, 2019 to initiate the process for such amalgamation after obtaining independent professional advice with regard to the methodology to be adopted together with approval of relevant statutory and regulatory requirements in order to enable the same.

Subsequent to the amalgamation Citizens Development Business Finance PLC will be the surviving entity.

 

ColomboPage - Recent 10 Stories ::
Development projects worth Rs. 48 billion implemented island wide under the Gamperaliya program
-- [3 hours ago]
Only reconciliation among communities can erase the dark stain of Easter Sunday attack - PM
-- [4 hours ago]
NTJ Colombo district organizer remanded again
-- [5 hours ago]
Buddhist prelates request Speaker to continue PSC without interruption and reveal truth
-- [6 hours ago]
The discussion on Muslim politicians resuming ministerial portfolios ends without a conclusion
-- [6 hours ago]
Appeal Court rejects Gotabhaya Rajapaksa's petition challenging special HC verdict
-- [7 hours ago]
Sri Lanka trade deficit considerably narrows in April 2019 as imports decline by 11 percent
-- [7 hours ago]
Sri Lanka earns Rs. 35 billion from Cinnamon exports last year
First rescue operation of Sri Lanka Navy's SLNS Gajabahu brings ill fisherman ashore for treatment
PM instructs not to rush to announce a UNP Presidential candidate

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.