Parent buys 9% more of Amana Takaful for Rs. 180.2 m; Dr. Senthilverl sells
Monday, 23 June 2014 00:00
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Parent, Amana Holdings Ltd., on Friday bought a further 9% stake in Amana Takaful PLC for Rs. 180.25 million, with the seller being high net worth investor and Director Dr. T. Senthilverl.
The stake amounting to 90.12 million shares was done at Rs. 2 each.
Prior to Friday’s purchase Amana Holdings held 48.34%. Related party Amana Bank Ltd., held a further 15%.
Despite the sale Dr. Senthilverl has been requested to remain on the Board of Amana Takaful. He also bought a fresh stake of 1.95 million shares at Rs. 1.80 each.
The major shareholder’s decision to up its stake in Amana Takaful was said to be arising out of confidence and seeing future value. The Net Asset Value of Amana Takaful is Rs. 1.17 per share (Group) and Rs. 1.01 (at Company level).
