Vallibel Finance announces 1 into 4 share sub division

The Board of Directors of Vallibel Finance PLC, by circular resolution passed on 2 June, resolved to recommend to its shareholders to increase the number of ordinary shares by sub-dividing the shares.  Every existing ordinary share (01 share) will be sub-divided into four ordinary shares.

Consequent to the subdivision, the number of issued ordinary shares will be increased from 58,863,350 ordinary shares to 235,453,400 ordinary shares.

There will be no change to the existing stated capital of the company, which will remain at Rs. 1,325,918,000.

The sub-division will be subject to the company receiving the concurrence of the Colombo Stock Exchange (CSE) to proceed with such sub-division of ordinary shares and shareholder approval at an EGM. 

Vallibel Finance shares yesterday closed at Rs. 167.25, up by 3% or Rs. 4.75. Around 1.1 million shares traded for Rs. 202.6 million.