CSE announcements

Renuka Agri Foods to go for rights issue

Renuka Agri Foods Plc plans to go for a rights issue of 160.5 million ordinary shares at Rs. 4 to invest in the fruit and dairy sector through Richlife Dairies.

It will also settle short-term borrowing used for the acquisition of Richlife Dairies and invest in plantations and farms.

The issue will be in the proportion two for five shares held at Rs. 4 per share. The company has 401.25 million shares in issue at present amounting to Rs. 552.45 million.

The issue is subject to obtaining shareholder approval at a general meeting, the company said in a stock exchange filling. Renuka Holding’s shares closed at Rs. 38.50 on Friday.

MBSL to amalgamate with Ceylease, Merchant Credit and MBSL Savings BankThe Board of Merchant Bank of Sri Lanka (MBSL) has decided to go ahead with amalgamating the Merchant Bank of Sri Lanka with Merchant Credit of Sri Lanka Ltd., Ceylease Financial Services Ltd. and MBSL Savings Bank Ltd. MBSL shares closed flat at Rs. 30 when 22,426 shares traded on Friday.

Amrit appointed to Sigiriya Village and Marawila Resorts Boards

Amrit Rajaratnam has been appointed to the Boards of Sigiriya Village Hotels Plc and Marawila Resorts Plc with effect from 5 March.