John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue)

K.Haputantri

K.Haputantri

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http://www.cse.lk/cmt/upload_cse_announcements/3931380710854_.pdf

sriranga

sriranga

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John Keells Holdings (JKH) won shareholder approval for a 40-billion-rupee rights issue to fund a mega mixed development project at Wednesday’s Extraordinary General Meeting (EGM) but not after dissent shown from some minority shareholders.

Shareholders attending the meeting said that some shareholders had grilled the management on why they are not using their own cash to find this project. They pointed out an earlier occasion in 2010 when the company had raised cash in a similar manner but ultimately didn’t use it to invest in leisure sector expansions as promised by them. “The management said that it’s not true and that they did buy into hotels and revamped their existing properties. But that was after a long time and not in a decent time frame,” a shareholder said.

The rights issue was passed by about a 75 per cent majority. The company has held meetings with international fund managers over the past month in a bid to raise funds for its mega US$820 million integrated development project on the Beira waterfront bordering its former headquarters.

Other questions raised were about the proposed casino coming up in the mixed development project on the company’s Beira waterfront property.

The directors were vague in their response. They said no decision has been taken as yet on whether JKH will run the casino or whether an outside operator would be called in to own and operate this unit. (DEC)
http://sundaytimes.lk/news/news/38219-jkh-approves-rs-40-bln-rights-issue-amidst-shareholder-dissent.html

moonwalk

moonwalk

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all good let's attract some high spending tourists than these backpackers.., JKH is good for future in 5 - 6yrs my expectation is at 1000/- but govt shld plan on infra fast n' get Colombo look good n' ppl needs to be disciplined from road rules to public behavior n' etc

traderathome

traderathome

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better to wait for the right issue completion. we can make kill after that....i am still targeting 180/170 or 160. i may be wrong in my judgment.

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John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue)

1 John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue) Wed Oct 02, 2013 5:44 pm

K.Haputantri

2 JKH approves Rs. 40 bln rights issue amidst shareholder dissent Wed Oct 02, 2013 6:03 pm

sriranga

3 Re: John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue) Wed Oct 02, 2013 8:18 pm

moonwalk

4 Re: John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue) Thu Oct 03, 2013 9:03 am

traderathome

5 Re: John Keels Holdings - Extra-ordinary General Meeting (Rights/Warrants Issue)

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