Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share

Business Basil

Business Basil

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Ernst & Young behalf of their client has offered a bid at Rs.3.70 per share to takeover 51% stake of Free Lanka Capital Holdings (FLCH).

However sellers are said to be expecting Rs.4.50 per share. It is anticipated that the deal will proceed on the market at Rs.4 per share.

At the moment there is a flock of over 38 million buying on the board.

Last edited by Business Basil on Fri Jul 11, 2014 12:23 pm; edited 2 times in total

suja

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May we know the source please?

SHARK aka TAH

SHARK aka TAH

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Dear BB

Do you have the source

Business Basil

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it is exclusive information close to the deal...coming from Ernest & Young.I am pretty sure even news papers you have seen in reports that they stick to the correct source which you guys may not come across.

bakapandithaya

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Something happening to FLCH Very Happy

SHARK aka TAH

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Business Basil wrote:it is exclusive information close to the deal...coming from Earnest & Young.I am pretty sure even news papers you have seen in reports that they stick to the correct source which you guys may not come across.

Thanks

nirowat

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Why no announment ?

stevenapple

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Why cant they collect in the Market at a discounted price? Any restrictions?

WildBear

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HPFL jumped over 90 cents today, is there a connection to this or Famous DR. buying again, last time he bought HPFL even at Rs. 21.

lux2014

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Free Lanka Capital Holdings, do they own W M Mendis?

mark

mark

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yes he is right, isnt it standstorm? marketsira? avinash? Razz

econ

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is this a reliable insider information??

WildBear

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If this is true, considering the current NAV of FLCH being 4.7, Changing the controlling stake below it's NAV is a rotten deal for current shareholders.

After re-valuating with already completed office complex building in Borrella, It's NAV might further improve a bit.

With the rising tea price trend FLCH future will be better than this.
Interesting to know who the buyer is.

nirowat

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Whats happening here ?

Big trades today

stevenapple

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nirowat wrote:Whats happening here ?

Big trades today

BTW Where is the Basil.

nirowat

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Think Basil sold out today

WildBear

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Both FLCH and HPFL down, FLCH traded over 10 million shares

Top Trader

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Business Basil wrote:it is exclusive information close to the deal...coming from Ernest & Young.I am pretty sure even news papers you have seen in reports that they stick to the correct source which you guys may not come across.

If this news is true, How to deal with the E & Y in the future, because i feel there is a serious breach of Confidentiality, also what happen to the CODE OF ETHICS REQUIREMENTS OF THE CA Sri Lanka?

indi009

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lux2014 wrote:Free Lanka Capital Holdings, do they own W M Mendis?

yes they bought about 60% stake in W M Mendis about 2-3 years ago Very Happy

WildBear

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indi009 wrote:

lux2014 wrote:Free Lanka Capital Holdings, do they own W M Mendis?

yes they bought about 60% stake in W M Mendis about 2-3 years ago

http://www.sundaytimes.lk/120930/business-times/perpetual-capital-holdings-to-go-public-with-w-m-mendis-and-company-13919.html

Yes they bought Mendis couple of years back.
KDDP likes to follow the path of Harry J?

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Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share

1 Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 12:03 pm

Business Basil

2 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 12:08 pm

suja

3 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 12:13 pm

SHARK aka TAH

4 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 12:15 pm

Business Basil

5 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 12:30 pm

bakapandithaya

6 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 1:10 pm

SHARK aka TAH

7 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 1:41 pm

nirowat

8 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 2:07 pm

stevenapple

9 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 3:34 pm

WildBear

10 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 5:55 pm

lux2014

11 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 5:58 pm

mark

12 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 7:01 pm

econ

13 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Fri Jul 11, 2014 7:44 pm

WildBear

14 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Thu Jul 17, 2014 2:14 pm

nirowat

15 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Thu Jul 17, 2014 2:39 pm

stevenapple

16 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Thu Jul 17, 2014 2:44 pm

nirowat

17 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Thu Jul 17, 2014 2:48 pm

WildBear

18 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Mon Jul 28, 2014 11:17 am

Top Trader

19 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Mon Jul 28, 2014 9:03 pm

indi009

20 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share Tue Jul 29, 2014 10:41 am

WildBear

21 Re: Ernst & Young offers Bid to buy Free Lanka Capital 51% at Rs.3.70 per share

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