In the backdrop of Dhammika Perera increasing his stake in Lanka Alluminum Industries PLC ( by 34.9%), the Board of Directors have requested shareholders to make a decision based on their own assessment of the mandatory offer and the independent valuation done by Acuity Partners (Pvt) Ltd.
“We have examined the contents and do agree with the independent advisor’s opinion that the offer price of Rs.41.50 is below the current LALU share value,” the statement said.
The director board statement to shareholders states that it had obtained an independent valuation and advice report from Acuity Partners (Pvt) Ltd in compliance with Rule 12 (1), on the mandatory offer document forwarded by Kulappuarachchige Don Dhammika Perera.
“The decision to accept or reject the offer rests entirely with shareholders. If shareholders are in any doubt as to what action has to be taken, then they should seek professional advice,” the statement further said.
In a filling to the Stock Exchange (on January 24), LALU said that Dhammika Perera had offered to purchase all remaining shares of the company at Rs.41.50 per share, after he increased his stake to 34.9% (4.87 million) in the company.
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