MELSTACORP - Whats with LMF ?

Backstage · 1 MELSTACORP - Whats with LMF ? Wed Aug 22, 2012 11:15 pm

Backstage

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Hi Melstacorp,

I am a LMF shareholder and I am quite disturbed at the lack of information on the current and future status of the company. 1. What is the outcome of the mandatory offer dispute ? 2. What happens to LMF in the restructuring process of the group. IMO it is unethical, to keep investors uninformed for prolonged periods.

I am very appreciative of the fact that a company (a formidable one at that) knows the importance of, and has created a precedent in interacting with investors in a forum such as this. Thank you.

Melstacorp Ltd · 2 Re: MELSTACORP - Whats with LMF ? Tue Sep 04, 2012 11:47 am

Melstacorp Ltd

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Hi Backstage

Thank you for your post. Unfortunately the issue of LMF is in two courts and we will not be able to comment on it in detail. The Takeovers and Mergers Code of 1995 (amended in 2003) gives the definitions of the words 'Takeover' and 'merger'. The code is a public document available through www.sec.gov.lk. Therefore the informed shareholders could come to their own conclusions on whether the action filed by SEC or the defense taken by the Melstacorp Limited holds water by analyzing the said definitions. This is all we can say about this.

With regard to your query on restructure, there will not be any impact on the effective holding of any majority or a minority shareholder if and when a restructure takes place. However, we cannot see an impact of the restructure (if any) on the majority or minority shareholders of LMF.

Thank you again for your interest.

Melstacorp Limited

Backstage · 3 Re: MELSTACORP - Whats with LMF ? Wed Sep 05, 2012 11:40 pm

Backstage

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Hi Melstacorp,

Thanks for the response, points noted.

I still think that you should inform shareholders that there are court cases, along with the permissible information such as type of case and dates ect.. without relying on the substandard local media to do so.

Good luck.