SEYB Board of Directors ...a bunch of liars...!

CSE Today · 1 SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 11:57 am

CSE Today

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SEYB made an announcement to CSE on 1st march 2011 regarding the Board decision to go for a right Issue, and on the same announcement they stated all info will be submitted to the share holders withing 7 market days from the date of announcement but still today I didn't receive such a document from SEYB and do anyone here who have received the said document/s pls share...!

Before the announcement the SEYB n was trading around 90/- levels & X @ 47/- ~ 48/- levels, with the announcement of the right issue the market prices fell down and it made heavy & unbearable losses to many stake holders including me but hopefuly holding the stock thinking the dates will be announced today, tomorrow,then day after.....but It seems the Directors do not care of the plight of its stake holders concerns...!

Because of the Board of Directors are not going ahead with the announcement of the dates & sending the info to stake holders as per their own statement [see the attachment pls] I call these type of things as CLEAR MANIPULATION OF STOCK PRICES....my greatest worry is with SEC...what the hell are they doing with this type of manipulation of share prices...?

Twisted Evil

Attachments

seylan i.jpg: [See the full announcement on www.cse.lk]; You don't have permission to download attachments.; (48 Kb) Downloaded 21 times

bmi · 2 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 1:26 pm

bmi

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SEC must confess this issue. I too agree with u. we r waiting for the right issue allotment

isuru_ra · 3 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 3:05 pm

isuru_ra

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I'm also holding SEYB.X with loss. still no rights issue date Sad

StocksWatch · 4 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 3:22 pm

StocksWatch

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May be the directors are in a kind dilemma...we saw few days back the voting share was trading well below Rs 75, the price declared for the rights. The rights issue may not be successful unless the price of voting share increase further.

However, this is not an excuse for the directors to keep thier stakeholders in the dark. They must come out soon and declare what is thier plan for this proposed rights issue.

ipoguru · 5 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 5:29 pm

ipoguru

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Is it good to buy seyb shares at 75 rupees level .. What do u think

smallville · 6 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 6:19 pm

smallville

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ipoguru wrote:Is it good to buy seyb shares at 75 rupees level .. What do u think

Look at the market price for N shares and the number of rights that will be coming to the market after the rights are converted.. U could be able to buy this lower than now soon if u really wanna go for SEYB.. Else, there are plenty of good banks out there..

ronstyn · 7 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 10:00 pm

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CSE Today wrote:SEYB made an announcement to CSE on 1st march 2011 regarding the Board decision to go for a right Issue, and on the same announcement they stated all info will be submitted to the share holders withing 7 market days from the date of announcement but still today I didn't receive such a document from SEYB and do anyone here who have received the said document/s pls share...!

Before the announcement the SEYB n was trading around 90/- levels & X @ 47/- ~ 48/- levels, with the announcement of the right issue the market prices fell down and it made heavy & unbearable losses to many stake holders including me but hopefuly holding the stock thinking the dates will be announced today, tomorrow,then day after.....but It seems the Directors do not care of the plight of its stake holders concerns...!

Because of the Board of Directors are not going ahead with the announcement of the dates & sending the info to stake holders as per their own statement [see the attachment pls] I call these type of things as CLEAR MANIPULATION OF STOCK PRICES....my greatest worry is with SEC...what the hell are they doing with this type of manipulation of share prices...?

The announcement said an application for listing together with draft circular was to be sent to CSE and not shareholders within 7 days.This may have been done.

chamith · 8 Re: SEYB Board of Directors ...a bunch of liars...! Tue Apr 05, 2011 10:10 pm

chamith

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SEYB board of directors took that decision about the right issue. But i think they need to have the shareholders and CSE approval for that. Looking at the state of the share prices they will not get the approval from shareholders. Therefore there will be a revised right issue announcement soon. On 25th of march a director had brought 10,000 seyb.x as well...

lets hope for the best,,,

CSE Today · 9 Re: SEYB Board of Directors ...a bunch of liars...! Wed Apr 06, 2011 8:38 am

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chamith wrote:SEYB board of directors took that decision about the right issue. But i think they need to have the shareholders and CSE approval for that. Looking at the state of the share prices they will not get the approval from shareholders. Therefore there will be a revised right issue announcement soon. On 25th of march a director had brought 10,000 seyb.x as well...

lets hope for the best,,,

see the highlighted lines on above quote pls..
If the Board decides to amend or cancel the rights issue, then the Director/s who purchased during the 1st March to date will be caught for Manipulation of shares in terms of dragging down the Price purposely and buying at low and thereafter revising their own decision which will give capital gains for them...!

For sure we'll have to lodge a formal complaint to SEC with the Directors announcement re his purchases & the Banks Announcement to CSE on 1st of March which made the SEYB market price to drop drastically...

So we can see how the SEC will react....

Now the Bank has two options
01. to go ahead with rights issue as decided
02. Remove the Director/s who have bought share during the said period from the Board & then amend or cancel the Right issue announcement

What is the best option which will be in favour of the present stake holders...?

Soundchips · 10 Re: SEYB Board of Directors ...a bunch of liars...! Wed Apr 06, 2011 9:08 am

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Might go up with market recovery. holding

Aamiable · 11 Re: SEYB Board of Directors ...a bunch of liars...! Wed Apr 06, 2011 12:36 pm

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recovering to earlier prices.

chamith · 12 Re: SEYB Board of Directors ...a bunch of liars...! Wed Apr 06, 2011 4:34 pm

chamith

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Mate...

We cant say that director made a fake announcement to get the prices down for him to buy. This decision was take by considering the prices at that time with poor knowledge of stock market price reaction and bad timing. With the market recovery slowly the price should pick up. Lets wait and see what's their new announcement would be like....

Soundchips · 13 Re: SEYB Board of Directors ...a bunch of liars...! Thu Apr 07, 2011 7:50 am

Soundchips

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chamith wrote:Mate...

We cant say that director made a fake announcement to get the prices down for him to buy. This decision was take by considering the prices at that time with poor knowledge of stock market price reaction and bad timing. With the market recovery slowly the price should pick up. Lets wait and see what's their new announcement would be like....

banks can do well when the market is steady.