http://www.cse.lk/cmt/upload_cse_announcements/3981317785604_.pdf
Galadari Brothers LLC will be issued with 376,884,339 (377 mn ) new shares in par with conversion of Debt into Equity....
& what can we expect in the future...A pump & Dump....
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RIO wrote:Wow see the announcement
http://www.cse.lk/cmt/upload_cse_announcements/3981317785604_.pdf
Galadari Brothers LLC will be issued with 376,884,339 (377 mn ) new shares in par with conversion of Debt into Equity....
& what can we expect in the future...A pump & Dump....
This is how directors earn huge profit from shares. Lending to a listed company by directors of the same company is a good way to make quick profits. But what will happen to the share price . It will come down and shareholders will have to pay the cost.Monster wrote:Board of directors has approved the price Rs 15.26 per share to convert debt in to equity. But currently the market price is Rs 31/-, which is 100% more than the approved share price by board of directors. So, Galadari Brothers may try to dump these shares in the open market.
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