Rs. 767 m Anilana Hotels’ Rights Issue oversubscribed

Thursday, 27 November 2014 00:32 - - {{hitsCtrl.values.hits}}

Anilana Hotels and Properties PLC’s Rights Issue worth Rs. 767 million closed yesterday after being fully subscribed, attracting applications over and above the number offered under the rights.

The Rights issue offered Ordinary Shares in the ratio of two shares for every seven shares held by the registered holders of Ordinary Voting Shares in the Company at an issue price of Rs. 7/- per ordinary voting share. The Company offered 109,624,114 Ordinary Voting Shares, making it a total 494 million shares. The Offer closed yesterday, raising Rs. 767 million partly to finance the balance construction of Phase-I of the Dambulla hotel and to retire approximately Rs. 167 million of existing debt. Chairman Peter Amerasinghe said that Anilana Hotels and Properties PLC will continue to investment in expansion and debt restructuring to improve its financial position and will actively streamline cost structures by benchmarking best practices from within and outside the country. In addition, Anilana will focus on continuous staff training and development to achieve a high level of service which would be a hallmark of its resorts in Sri Lanka.

Anilana Passikuda Anilana is one of Sri Lanka’s youngest and brightest hospitality brands, already enjoying positive recognition from guests around the world and is a collection of unique and stylish resorts, designed to present Sri Lanka at her most picturesque and beautiful. Anilana operates as a luxury brand, focused on prov

iding a memorable experience, with each resort providing authentic and delicious food, a discrete, relaxing time, as well as luxurious accommodation. Two hotels are currently in operation, another hotel and several villas are under construction and additional projects are in the pipeline, capitalizing on the vast land bank which has been selectively acquired over many years. Anilana-Pasikuda, the first resort, opened in May 2013, with Anilana-Nilaveli opening to the public in April 2014.Both hotels have already received positive acclaim from industry specialists, the local community, international visitors, those in the diplomatic community and even from European royalty who have enjoyed the time spent at the hotels. Anilana aspires to be recognized as one of the top hospitality brands in the country in the next five years. Anilana-Damublla and Anilana Villas-Panichchankerni are due to open in the latter part of 2015. The company also plans on developing 3 more Resorts in the east coast and also start a joint venture development in the city of Colombo.