Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 17 December 2021 04:08 - - {{hitsCtrl.values.hits}}
The Ceylon Guardian Investment Trust Group has announced a share buyback worth over Rs. 200 million.
Ceylon Guardian Investment Trust PLC (GUAR/the company) resolved on 15 December 2021 to repurchase shares from the shareholders of the company on the basis of one ordinary share for every 180 held at Rs. 204.01 per share. If accepted, the total payment will be Rs. 100.6 million. It involves 0.46 million ordinary shares and 32,231 deferred shares (unlisted).
Separately Ceylon Investment PLC (CINV/the company) resolved on 15 December 2021 to repurchase shares from the shareholders of the company. The basis is one ordinary share for every 102 held at Rs. 102.70 each. Offer involves a maximum of 0.99 million shares and will cost Rs. 102 million.
The price paid on Ceylon Guardian reflects a premium of 87% over the current market price (Rs. 109.25 yesterday) and on Ceylon Investment it is 90% (current price is Rs. 54).
Carson Cumberbatch owns 67% stake in Ceylon Guardian Investment Trust PLC and Ceylon Guardian Investment Trust PLC owns 66% stake in Ceylon Investment PLC.
