Two Carson Group investment firms announce share buybacks

Ceylon Guardian Investment Trust PLC (CGIT) has announced a share repurchase worth Rs. 104,080,917 whilst Ceylon Investment PLC (CINV) has announced a similar move worth Rs. 103.6 million.

CGIT offer involves maximum purchase of 458,433 ordinary shares and 32,052 deferred shares at Rs. 212.20 each on the basis of 1 for 180 ordinary shares held (worth Rs. 97.3 million) and 1 for every 180 deferred share held (worth Rs. 6.8 million).

CINV offer is to re-purchase a maximum of 983,770 shares at Rs. 105.36 on the basis of 1 for every 102 shares held (worth Rs. 103.65 million). Separately the two companies also announced first interim dividend for FY23. CGIT announced a Rs. 22 dividend and by CINV it was 55 cents. Carson Cumberbatch PLC owns 67% stake in CGIT, public holding of which is 32.34% involving 1,606 shareholders. CGIT in turn holds 66% stake in CINV which has public holding is 34.06% involving 2,967 shareholders.