Tokyo Cement rewards shareholders
The Board of Tokyo Cement Company (Lanka) PLC said shareholders will
be encouraged to accept a proposal for the capitalization of the
company's revenue reserves.
This offering comes in the wake of a successful financial year for
the industry mogul. Tokyo Cement Company (Lanka) PLC Chairman, Edgar
Gunatunga, said they are extremely pleased to be able to benefit
shareholders with the accumulated profits of the company via an
opportunity for investment within the company.
The company hopes to offer a capitalization proposal on -
Capitalization of Reserves and Issue of One share for every Eight shares
held (1:8) That sum of Rs 573,750,000/-, being a part of the amount
standing to the credit of the Revenue Reserve in the company's Balance
Sheet as at March 31, 2010 (unaudited), should be capitalized and
applied in paying up in full and 22,500,000 (Twenty Two Million Five
Hundred Thousand) new ordinary shares - voting its satisfaction thereof.
Also 11,250,000 (Eleven Million Two Hundred and Fifty Thousand) Non
Voting Ordinary Shares in satisfaction thereof.
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