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As I said, I never promoted ALHP but I knew its value. All I want was to help you to cover up your loses on Shares.
You will never buy ALHP again at 1.00/=, Have a nice jouney with ALHP because now they have much experience.
I firmly say that ALHP will move above 5.00 with the time before revaluation.
This is an article on Biznews today.
Sri Lankan Investment Banker and Deal Maker Asanga Seneviratne controlled leisure property arm - Anilana Hotels and Properties (ALHP) that has over 128 acres under management has finalized a deal with investor- Singapore’s Somap for an infusion of capital to the tune of over Rs. 513 million via a private placement, a Colombo Stock Exchange (CSE) disclosure said.
Formed in Singapore in 1997 as a Shipping and trading company, primarily to deal in old ships for recycling,
Somap International Pte Ltd is now a Global company with interest ranging from shipping to commodity trading, real estate, hospitality, e commerce, industry, pharmacy, dairy and retail business.
After several delays, and nearly a year after the initial announcement in June 2017, a filing informed Colombo Stock Exchange (CSE) on 3rd August 2018, that ALHP has issued 513,443,555 ordinary shares, amounting to 51% of the total shares outstanding of the company, to Somap international of Singapore at a price of Rs1.30 a share. Disclosure further added that Anilana Hotels and Properties (ALHP) now becomes a subsidiary of SOMAP, and three of its appointees have immediately joined the board of directors.
Reports said that ALHP, previously controlled by Asanga Seneviratne and family, had run into financial difficulty as they had spent billions to construct luxury hotels on Sri Lanka’s east coast. Company’s latest financials as at 31st March 2018 outlines that Anilana Group has properties, plants and equipment worth over Rs. 3.9 billion and investment properties worth over Rs. 939.4 million, whilst the borrowings both non-current and current, bank overdraft of the group is over Rs. 1.9 billion. The latest annual report of company also note that 3 financial or lending institutions had filed lawsuit against the company for defaulting over Rs. 314 million (Note 29 of the Amended Annual Report as at 31st March 2017). Market analysts outline that it is expected that with the capital infusion and new controlling shareholder, the company will be able to reduce leverage and restructure Anailana group to profitability.
Somap was started by Dinesh Pandey, a Master in Maths from Delhi University and an MBA who having served multinational Samsung, started his own journey in 1995. He was soon joined by his younger brother Pramod Panday, Graduate from Delhi University, to support the business. Pramod Panday is dynamic and has helped the Group reach height. Both Dinesh, Pramod and another Sonal Panday had joined Anilana as Non-Independent Directors upon the acquisition according to the disclosure released to CSE.
I would kindly welcome your praises and insults. We will meet with the next positive news.
Have a nice journey to allll.......!!!!
JET IS READY TO FLY MARS........!!!!!
Thank you!
WISDOM79
