What will happen to CSF share

CSE1 · 1 What will happen to CSF share Sat Jan 22, 2011 8:01 pm

CSE1

Assistant Vice President - Equity Analytics

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hey expertise
i want to know about CSF share. is it worth to buy that right issue ??
Thank U

Quibit · 2 Re: What will happen to CSF share Sat Jan 22, 2011 8:15 pm

Quibit

Senior Vice President - Equity Analytics

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Nation Lanka Finance PLC (CSF) is yet to obtain approval from the Securities and Exchange and Commission (SEC) for the proposed rights issue and the placement of shares. Without the approval they are unable to have the EGM to pass the necessary resolutions. As a result date of the EGM and the cut off dates for the rights is yet to be announced.

The new investors require at least 80% of the shareholders support in order to proceed with the rights issue and the placement. If they are unable get the support then the proposed placement and rights issue is likely to fall through.

There is a rumor that some of the directors and shareholders are not happy the reputation of the new investor and fact that the proposed placement is done at a very low price compared to the current market price. and the value of the company.

So we need to wait and see to decide weather CSF rights issue is worth at this price or not!!