Taprobane Holdings offers to buy Century Investments
View(s):Taprobane Holdings PLC made an offer on Wednesday to buy Lanka Century Investments having already increased its shareholding to 46.19 per cent. In this respect, the company stated in a stock exchange filing that it would offer to buy all shares in the isued and paid up ordinary voting shares of Lanka Century Investments PLC.
In an announcement to the Colombo Stock Exchange, the company noted that Taprobane had acquired 100 per cent of the shares in issue of Capital Trust Partners which held 17.26 per cent of voting shares in Lanka Century. Prior to this the company held 28.93 per cent of the issued and paid up ordinary voting shares that then totalled to 46.19 per cent for shares held both directly and indirectly in Lanka Century. Taprobane would be willing to buy shares at Rs.11 per share of all issued and paid ordinary voting shares held by others. The number of such remaining ordinary voting shares, which are subject to the offer as at May 22, 2014 amounts to over 188 million, it was stated. This would amount to 53.81 per cent of the share capital at Lanka Century, it was noted.