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| Wednesday, 10 November 2004 |
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Asiri Medical Services shares to be listed through an Introduction The Colombo Stock Exchange (CSE) has approved an application by Asiri Medical Services Limited (AMSL) to list 35.2 million fully paid ordinary shares (par value Rs. 10) through an Introduction. These will be listed on the Second Board of the Colombo Stock Exchange. Investors will have the opportunity to buy shares of AMSL on the secondary market through their stockbrokers when trading starts on Friday, November 12. The Introductory Document giving detailed information is available from the sponsors to the Introduction, SSP Corporate Services, or from any one of the 15 stockbrokers who are members of the CSE. Incorporated in March 2000, AMSL is a subsidiary of the listed company, Asiri Hospitals Limited. AMSL has 35.2 million issued and fully paid up shares of Rs. 10 each. Major shareholders currently include Asiri Hospitals Limited (49.1%), DFCC Bank, Lanka Ventures Limited and the Directors of the Company. AMSL enjoys BOI status and is entitled to a 10-year tax holiday on profits. Furthermore, Dividends paid from tax-free profits during the first five years will be exempt from Income Tax. Unaudited results released by AMSL for the quarter ended June 30, 2004 show a net profit of Rs. 15.8 million. AMSL owns Asiri Surgical Hospital, which is a Rs. 1.2 billion BOI project. Opened in October 2003, it is Sri Lanka's first specialised surgical hospital. It has a 100-bed capacity and provides the latest surgical facilities and specialises in every type of general and advanced surgery except cardiac surgery. Asiri Surgical Hospital has already achieved an occupancy rate of 80 to 85 percent. |
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Produced by Lake House |
