The Extra Ordinary General Meeting (EGM) held by Sri Lanka's Hatton National Bank PLC on Tuesday seeking approval for a rights issue was passed by majority shareholders.
The bank will now issue one new share for every six shares held by ordinary voting and ordinary non-voting shareholders. The shares to be provisionally allotted to each shareholder would be based on the shares held as at the end of trading on the date of the EGM. Ordinary voting shares would be offered at a price of Rs. 220 per share while ordinary non-voting shares would be issued at Rs. 190 per share, the bank said in a media statement.
Commenting on the rights issue, Jonathan Alles, the Managing Director/CEO HNB said the proceeds tform raised from the rights issue would be utilized to improve the capital base of the bank in line with the Basel III capital requirements as stipulated by the Central Bank whilst supporting economic growth and the development goals of the country. - ENDS -
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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