Daily News Online
 

Wednesday, 13 January 2010

News Bar Ľ

Security: Friend spills the beans ...        Political: People will tell world they are against terrorism ...       Business: Tourism picks up in Jaffna ...        Sports: Sri Lanka-India clash in tri-series final ...

Home

 | SHARE MARKET  | EXCHANGE RATE  | TRADING  | SUPPLEMENTS  | PICTURE GALLERY  | ARCHIVES | 

dailynews
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

Investors chase voting shares

Environmental Resources and Investments(ERI) ruled the markets yesterday as investors chased up its voting shares and warrants to record highs as the company revealed plans to raise capital.

Early in the day, the company announced a rights issue of one (1) for every two (2) held at the rate of Rs 30.00, while also announcing an issue of six (6) warrants for every share held. Warrants give the holder the right but not the obligation, to buy new shares of the company at future date at a price lower than they are expected to trade at that time. ERIís new warrants are exercisable in three phases; 2012 at Rs 33.00, 2014 at Rs 36.00 and 2015 at Rs 39.00.

The warrants are allocated on the basis of two of each class for every ordinary share held and one of every new class for every 2010 warrant and also for 2011 warrant held. With this news the shares and warrants shot up to close at Rs 98.00 for the shares (up Rs 21.00 from the previous close), Rs 74.25 for the both the W0000 warrant (up Rs 17.75) and W001 warrant (Up Rs 17.50).

The market indices closed down for the day with the ASPI at 3,495, down 21 points (-0.6 percent) and the MPI at 4,006 down 5 (-0.1 percent).

Turnover for the day was Rs 1.3 billion with John Keells Holdings closing at Rs 179.00 on business of Rs 295 million. ERI collectively accounted for Rs 487 million in turnover.

Asian markets were mixed for the day with Tokyo and China gaining 0.8 percent and 1.5 percent respectively while declines were witnessed in Hong Kong (0.4 percent), Singapore and India (0.6 percent for both)

FirstGuardian Equities

 

EMAIL |   PRINTABLE VIEW | FEEDBACK

www.lanka.info
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
www.peaceinsrilanka.org
www.army.lk
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)

| News | Editorial | Business | Features | Political | Security | Sport | World | Letters | Obituaries |

Produced by Lake House Copyright © 2010 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor