GREG 2012 Warrants conversion

K.Haputantri · 1 GREG 2012 Warrants conversion Wed Oct 02, 2013 1:35 pm

K.Haputantri

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http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

Jana · 2 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 1:55 pm

Jana

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K.Haputantri wrote:http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

I think no body want to pay for it then how come they converted ....

may be they hold...GREG.W0002 315,987,182... then they converted their warrant as normal shares then ....

now Lionhart Investments Limited can have 315,987,182 GREG.N....

is it possible or not...???

Slstock · 3 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 1:58 pm

Slstock

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Jana, what are you saying?

No warrants were converted ( naturally)

Jana wrote:

K.Haputantri wrote:http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

I think no body want to pay for it then how come they converted ....

may be they hold...GREG.W0002 315,987,182... then they converted their warrant as normal shares then ....

now Lionhart Investments Limited can have 315,987,182 GREG.N....

is it possible or not...???

K.Haputantri · 4 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 1:59 pm

K.Haputantri

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Jana wrote:

K.Haputantri wrote:http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

I think no body want to pay for it then how come they converted ....

may be they hold...GREG.W0002 315,987,182... then they converted their warrant as normal shares then ....

now Lionhart Investments Limited can have 315,987,182 GREG.N....

is it possible or not...???

According to the letter, not a single warrant was converted and all expired.

Jana · 5 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 2:03 pm

Jana

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K.Haputantri wrote:

Jana wrote:

K.Haputantri wrote:http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

I think no body want to pay for it then how come they converted ....

may be they hold...GREG.W0002 315,987,182... then they converted their warrant as normal shares then ....

now Lionhart Investments Limited can have 315,987,182 GREG.N....

is it possible or not...???

According to the letter, not a single warrant was converted and all expired.

ohh sorry i didn't read correctly.... Very Happy

Gaja · 6 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 2:06 pm

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Any members lost significantly?

VISA · 7 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 2:08 pm

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Jana wrote:

K.Haputantri wrote:http://www.cse.lk/cmt/upload_cse_announcements/771380699114_.pdf

I think no body want to pay for it then how come they converted ....

may be they hold...GREG.W0002 315,987,182... then they converted their warrant as normal shares then ....

now Lionhart Investments Limited can have 315,987,182 GREG.N....

is it possible or not...???

that is not possible. w0002 warrants gone

now there is w3 and w6 only
w3 expire date in feb 24 feb 2014
w6 expire date in feb 24 feb 2015

Jana · 8 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 2:16 pm

Jana

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slstock wrote:Jana, what are you saying?

No warrants were converted ( naturally)

[

Slstock I didn't read correctly..

So it good for GREG isn't it ?? if it is non of them converted as Normal..

Slstock · 9 Re: GREG 2012 Warrants conversion Wed Oct 02, 2013 2:19 pm

Slstock

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Well, is someone converted these at Rs 30+ when N is at Rs 13 they would be crazy right?

I am not sure whether it is good for GREG but, if they can get their act together the current N price is not bad ( not saying to buy)

Jana wrote:

slstock wrote:Jana, what are you saying?

No warrants were converted ( naturally)

[

Slstock I didn't read correctly..

So it good for GREG isn't it ?? if it is non of them converted as Normal..

sriranga · 10 ERI misses Rs. 11.4 b capital infusion Thu Oct 03, 2013 12:53 am

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Environmental Resources Investment (GREG) announced that none of the 2012 warrants were converted into shares in the warrant conversion concluded on 26 September 2013.

As per the plan 2012 warrants amounting to 347,721,600 warrants at a price of Rs. 33 were to be exercised from 24 February 2012 and extended to 26 September 2013.

With ERI share trading at Rs. 13 level, no warrant holder was keen to exercise the option at what now appears to be a hefty premium. During the quarter ended June 2013, the highest price of ERI share was Rs. 18.70 and the lowest was Rs. 14.50.

The once highflying venture also has 2014 warrants with conversion of an equal amount of shares at Rs. 36 worth Rs. 12.5 billion and Rs. 13.5 billion via 2015 warrants. The 2014 warrants are trading at 50 cents and the 2015 warrants at Rs. 1.30.

Following alleged mismanagement, ERI ran into serious difficulties last year, forcing a change of ownership and Board of Directors.

Taprobane Holdings now holds a 28.9% stake in ERI’s voting shareholding along with Caledonian Securities Ltd. (27.7%) and Capital Trust Holdings (13%).

Former controlling shareholder Lionhart Investments Ltd. held 90.8% of the 2012 warrants. Caledonian Securities holds 72% of 2014 warrants whilst Lionhart holds 20% and the same percentages apply on 2015 warrants as well.
http://www.ft.lk/2013/10/03/eri-misses-rs-11-4-b-capital-infusion/