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| Tuesday, 14 September 2004 |
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JKH buys 100,000 more TAHL shares John Keells Holdings Limited (JKH) yesterday purchased a further 100,000 shares of Trans Asia Hotels Limited (TAHL) increasing the Group's shareholding in the company. JKH together with its subsidiary, Asian Hotels and Properties Limited, held 45.25% of the issued capital of TAHL prior to yesterday's trade. With this purchase, the John Keells Group owns 45.45% of TAHL in aggregate. The total number of shares acquired by JKH over the past 12 months amounts to 1,021,000 which is in excess of 2% of the issued share capital of TAHL. Therefore JKH will be making a mandatory offer for the rest of the shares of TAHL, not already held by JKH, as per Rule 31 of the Company Take-Overs and Mergers Code 1995 (as amended). The offer will be made at Rs 65.75 per share which is the highest price paid by JKH and related parties for TAHL shares in the last 12 months. |
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