Softlogic Finance PLC, a subsidiary of Softlogic Capital PLC has announced a capital infusion of Rs. 1.9 billion by way of a Rights Issue. The company will issue eight new shares for every five shares held by ordinary shareholders and the shares will be provisionally allotted to each shareholder at Rs 11.50 per share, it said this week.
The Rights Issue will enable Softlogic Finance to pursue its innovative business strategy that will focus on a secured product mix. The company recently underwent an extensive restructuring of its top management with Priyantha Wijesekera taking over as Chief Executive Officer in March this year, and new appointments for several key management positions made. The new management team has an exemplary track record, and has been hand-picked to craft and deliver the new journey of the Company.
Ina a media release, the company said it is re-evaluating its product mix and services offering, and work is in progress to streamline systems and processes in a digital backdrop to prepare the company for a changing landscape, so the company may deliver a distinctive and easily accessible value proposition to its customers.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
All Ceylon Makkal Congress MP Ali Sabri Raheem had been arrested by Kalpitiya police after he surrendered to the police today morning.
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
The 22nd amendment to the constitution dealing with the term of the President has been gazetted by order of President Ranil Wickremesinghe.
Auspicious times widely followed by candidates keeping with traditions will be taken into consideration by the Election Commission in fixing the date and time for the conduct on the Presidential polls.
The Cabinet of Ministers has granted policy approval to change the wording “exceeding six years” in paragraph (b) of Article 83 of the Constitution to “exceeding five years” with reference to the President’s tenure.
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