Saturday, 1 March 2014 06:40
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Lanka Century Investment (GREG) announced yesterday that none of the 2014 Warrants were converted into shares in the warrant conversation concluded on 24 February 2014.
Originally warrants holders were entitled to exchange their warrants with an equal number of ordinary shares of the company at Rs. 36 each during the exercise period between 3 February and 24 February.
Last week Lanka Century Investments share closed at Rs. 13.70 up by 90 cents whilst this week it dropped by 60 cents to Rs. 13.10.
A successful conversion would have been worth Rs. 1.25 billion.
Caledonian Securities holds 72% of the 2014 Warrants and Lionhart Investments own 20%.
