Two Carson’s Group firms announce Rs. 288 m share repurchase

Monday, 27 May 2024 00:53 - - {{hitsCtrl.values.hits}}

Ceylon Investment PLC (CONV) and Ceylon Guardian Investment Trust PLC (CGIT) have announced moves to repurchase shares from the Shareholders in terms of Section 64 of the Companies Act, No. 07 of 2007 and Article 17 of the Articles of Association of the Company.

At CINV the number of shares to be purchased will be 2.16 million (on the basis of 1 share for every 46 held) at Rs. 118.14 per share in an exercise worth Rs. 255.18 million. At CGIT, the basis will be 1 deferred share for every 41 deferred shares held and involves 139,932 shares at Rs. 237.09 each in a deal worth Rs. 33.17 million.