CSE Announcement on Hotel Developers(Lanka) Ltd

sriranga · 1 CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 2:25 pm

sriranga

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CSE Announcement on Hotel Developers(Lanka) Ltd Hotel_10

Last edited by rijayasooriya on Mon Nov 14, 2011 10:14 pm; edited 1 time in total (Reason for editing : title shortened.)

Slstock · 2 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 2:45 pm

Slstock

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The below statement takes the cake

"all shares held by all shareholders of the company are now held by the secretary to treasury in terms of the provisions of the act"

Do you want to give heart attacks to share holders. This is what happens when no real plan is made or concern about the people involved.

By the if there are any shareholders , do no panic there will be resolution to this.

Sheesh... I am a patriot of my lovely country. But can;t say the same for some of the people making public decisions there.

Last edited by slstock on Mon Nov 14, 2011 3:01 pm; edited 1 time in total

Universalgoal · 3 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 2:58 pm

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OMB what is goiong to happend even a silverline far away

rijayasooriya · 4 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 3:47 pm

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slstock wrote:
The below statement takes the cake

"all shares held by all shareholders of the company are now held by the secretary to treasury in terms of the provisions of the act"

Do you want to give heart attacks to share holders. This is what happens when no real plan is made or concern about the people involved.

By the if there are any shareholders , do no panic there will be resolution to this.

Sheesh... I am a patriot of my lovely country. But can;t say the same for some of the people making public decisions there.

Yes of course.This announcement is bullshit.This will create totally unnecessary panic situation.I do not think government will do such a foolish action.If SEC do not know anything clearly they should not circulate this type of stupid announcement.

Rajaraam · 5 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 9:12 pm

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Dear rijaye,
Anyway the content of the ctrcular is correct according to the Act. Now all liabilities and assets of the company are belongs to the govt. Secreary to the treasury represent the govt. They will have to deside the amount of compansation which is applicable to all either large or small shereholders.

rijayasooriya · 6 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Mon Nov 14, 2011 9:55 pm

rijayasooriya

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Rajaraam wrote:Dear rijaye,
Anyway the content of the ctrcular is correct according to the Act. Now all liabilities and assets of the company are belongs to the govt. Secreary to the treasury represent the govt. They will have to deside the amount of compansation which is applicable to all either large or small shereholders.

Yes Rajaraam.What bother to me is when an unknown retailor read this announcement he/she might become panic.That is really unnecessary.
On the otherhand oppositions might try to take some advantage over this announcement.When this announcement is read reader would think that now the shareholders are at the sole sake of secretary to the treasury.That feeling is again really unnecessary and this will discourage the investers decision on investing.It is better to make an explanatory announcement rather than making uncertain announcement.Anyway this is my personal opinion.

Gaja · 7 Re: CSE Announcement on Hotel Developers(Lanka) Ltd Tue Nov 15, 2011 9:56 pm

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6. Events Occurring After the Balance Sheet Date
Subsequent to the balance sheet date, no circumstances have arisen which would require
adjustment to or disclosure in the financial statements except for the following;
Impact of Revival of Underperforming Enterprises and Underutilized Assets Bill
Consequent to the enactment and passage of the above Act of Parliament, land leased to Pelwatte
Sugar Industries PLC (PSIL) an indirect subsidiary of Distilleries Company of Sri Lanka PLC is
listed under the schedule II of same. Accordingly, the land alienated hitherto by the State for PSIL
shall be vested with the State. At this moment we are unable to comment on the implications on
the ruling as we await instructions by the Secretary to the Treasury.

http://www.cse.lk/cmt/upload_report_file/463_1321352199224.pdf - This is the way it reported in the DCSL Quarter results