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COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_lcap68%COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_rcap 68% [ 178 ]
COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_lcap18%COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_rcap 18% [ 47 ]
COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_lcap13%COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Vote_rcap 13% [ 35 ]

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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)

COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000)

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hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Pacmange comment eka kalin dakka nan man sell karana eka gana tawa parak hitanawa.aparadeda manda

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Paca kiwain passe turn over ekath up...

TARGET


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@stockback wrote:
@Pac-man wrote:balaagannna game eka

Laughing Laughing Laughing Laughing Laughing Laughing Laughing


machan eka parak Mervin Silva parliment eke "moda musalaya" kiyala banne umbatada ban.

Miss-Sangeetha


Moderator
Moderator

@hiransilva23 wrote:Ec mama nam me share market atarala yanawa.goda yanna puluwan patak pena thek maneka na

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Eka welawakata pacman kiyala enawa.tawa welawakata karuna,aith wisdom78, wisdom79,hondama gon part eka miss sangeetha munge hithe miss kiwwama api andei kiyala.ai ban ubala mechchara gon?????

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator

@hiransilva23 wrote:Eka welawakata pacman kiyala enawa.tawa welawakata karuna,aith wisdom78, wisdom79,hondama gon part eka miss sangeetha munge hithe miss kiwwama api andei kiyala.ai ban ubala mechchara gon?????

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

sonduru athithaya .....

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Sangeetha,pacman dennama mervin silvata patta adareine

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator

@hiransilva23 wrote:Sangeetha,pacman dennama mervin silvata patta adareine


Karuna and Pacman are your god man and godfather respectively, earlier you were running behind them, learning from them and praising them. Now you are saying your hands are very clean

COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Karuna10

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

COMMERCIAL CREDIT AND FINANCE PLC (COCR.N0000) - Page 16 Cocr_011

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Pacman gana nam man kawadawat honda kiyala na.karuna kiyana username eken kattiyatama gema dunna.eka eka name walin awith gon part danna epa.sangeetha kiyana name eken kale kata hari mada gahana eka witaramai.tawat kujeetha wenna epa

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator

@hiransilva23 wrote:Pacman gana nam man kawadawat honda kiyala na.karuna kiyana username eken  kattiyatama gema dunna.eka eka name walin awith gon part danna epa.sangeetha kiyana name eken kale kata hari mada gahana eka witaramai.tawat kujeetha wenna epa


Hiransilva23 = Mervin silva

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

collection goes on.They did the same thing around 58.lets test these guys patience.Do not sell

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

GL's Key Regional Investment Plans Get Shareholders' Green Light

December 07, 2016
Shareholders of Group Lease Public Company Limited (GL), Asean's leading digital finance firm, gave approval to the proposal to acquire shares in two finance firms in Sri Lanka and Myanmar as part of its ambitious plan to become one of the "world-class" players.

With such approval, GL will acquire 22.27% shares in Commercial Credit and Finance PLC (CCF), a leading finance firm listed on Sri Lanka stock market, as part of the company's plan to acquire a total of 29.99% equity stake in CCF. The acquisition of the remaining 7.72% shares from its two existing shareholders--which does not involve connected transactions - is not subject to shareholders' approval.

Such acquisitions will boost earning's growth for GL from the profit sharing of around USD 7 million from CCF to be booked in Q4 and more to come next year and beyond.



The GL's shareholders also approved a proposed acquisition of all shares in BG Microfinance Myanmar Co., Ltd., a microfinance firm in Myanmar, to tap the high loan demand in the newly opened economy, as well as a proposed issuance of debentures to finance the expansion.

Mr. Mitsuji Konoshita, Chairman of the Board of Directors and Chief Executive Officer of GL, revealed the shareholders’ resolution, at the company’s extraordinary general meeting No. 2/2016 on December 6, 2016, to approve the proposed moves to expand the company’s presence in the digital finance markets in the Asean and Asian regions, which will be the new engine of growth for the company.

The acquisition will be made through Group Lease Holdings PTE. Ltd (GLH), a subsidiary registered on the Singapore Exchange (SGX), buying 22.27% shares in Commercial Credit and Finance PLC (CCF) from Creation Investments Sri Lanka LLC (Creation SL). CCF is a leading finance firm listed on Sri Lanka’s stock market with about one million customers and that will help GL to widen its geographical scope of operations beyond Asean to cover Sri Lanka, a growing South Asian market.

The 22.27% share acquisition will be part of the plan to hold a total of 29.99% shares in CCF, he said, adding that GLH has purchased the difference of 7.72% from two shareholders, i.e. BG Investments (PVT) Ltd. and Mr. Stephen L Lafrance Jr. The purchases, which were not connected transactions, did not require shareholder approval.

The combined value of the investments in CCF will reach THB 2.514 billion (about LKR 10.58835 billion). The CFF investments will improve GL’s performance beginning Q4 of 2016, as about USD 7 million (or about THB 244.6 million) will be posted as a profit sharing from CCF, whose profit for this year is estimated to be around US$22 million and around US$30 million for 2017.

The deal will also enable GL to have access to microfinance know-hows, which can be used to apply for credit expansions in Cambodia, Laos, Indonesia and Thailand.

Mr. Mitsuji added that GL’s shareholders also resolved to approve a proposed THB 277.24 million acquisition, to be executed by GL and/or through GLH, of all 1,387,680 issued and paid-up ordinary shares in BG Microfinance Myanmar Co., Ltd. (BGMM), a microfinance firm in Myanmar, at about US$5.77 (about THB 199.79) per share.

The BGMM acquisition will allow GL to immediately expand microfinance business in Myanmar, a country with a population of more than 50 million and huge loan demand. The deal means there is no need for GL to go through the difficult process of applying for a new microcredit business license from the Central Bank of Myanmar. Having been in operation for more than two years, BGMM has nearly 10,000 customers and a loan portfolio worth more than US$1.2 million (about THB 41.9 million).

GL’s shareholders, at an extraordinary general meeting, also approved proposed issuance of convertible debentures valued up to US$70 million to international investors on a private placement basis. Up to US$50 million convertible debentures will be allotted to JTrust Asia (JTA), a strategic partner in Indonesia, to finance expansions and secure working capital for GL’s digital finance business, and US$20 million convertible debentures to Creation SL, a partner in Sri Lanka, to raise funds for continued expansion. The debentures will have a three-year maturity period and a conversion price of THB 70 per share.

“The shareholders’ approvals will enable GL to increase its presence across the Asean and Asian regions at rapid rate and reach its performance goals and become a world-class digital finance firm,” said the CEO.

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

Deal Done........... Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics

Thanks, good read.   Does anyone know if there's a CSE rule where the share has to trade within a certain price range before a crossing can take place?  I'm trying to refer to LHCL etc and pinpoint if there is such a thing.  If so, I'm curious on how the cocr stake switches hands at 111?

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics

Ok, I take that back, I got disconnected from the trader and just saw the trades!  Awesome!

ShiraBoy


Senior Equity Analytic
Senior Equity Analytic

Deal done ! Just saw the trades ! wow.

EquityChamp

EquityChamp
Moderator
Moderator

Deal is done. But our retailers are dumping @ CSE.

EquityChamp

EquityChamp
Moderator
Moderator

Deal done but price is bleeding @ CSE. Is the speculator or the follower winning now?

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics

Yes will have to see how long they take to finish unloading.  Hope they didn't miss their profit opportunity.

monash

monash
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

I feel players create panic and Collecting again.. Very Happy

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@monash wrote:I feel players create panic and Collecting again.. Very Happy
I think deal is over 30% so mandatory offer should be 111/=

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

@Eugine Fernando wrote:
@monash wrote:I feel players create panic and Collecting again.. Very Happy
I think deal is over 30% so mandatory offer should be 111/=
COCR lovers Very Happy Very Happy Very Happy Very Happy

ඔබට සතු‍ටුයි ද දැන්... ????

himesh


Equity Analytic
Equity Analytic

111 ගන්නේ ඇයි මෙච්චර ලාබෙට තියෙද්දී ?  ඕක මිල නොවැටෙන්න කරපු ඩිල් එකක්. අපේ එවුන් බොරුවට අහුවෙලා කොටස් අරන් නිකන් අමාරුවෙ වැටෙනවා.

ShiraBoy


Senior Equity Analytic
Senior Equity Analytic

Why selling ?

Gallardo


Manager - Equity Analytics
Manager - Equity Analytics

Interesting times ahead, either way, great things can be done by a very cash rich COCR thanks to this deal.  They got a price that's close to 5 times their NAV.  Hefty premium so there seems to be much promise ahead.  

29.9% of 318,074,365 shares = 95,104,235

Crossings done = 95,390,500 = 29.989999

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

all financial theories violated. Price should go up because arbitrage opportunities cannot exceed like this.IT seems we can buy millions below 80.Thats not possible.After that we can give it to Thai fellows much cheaper for 90.This is impossible.

Lucky Gamage

Lucky Gamage
Manager - Equity Analytics
Manager - Equity Analytics

No Mandatory offer for COCR as the deal not pass the 30%....sooo saaadddd...

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Kauru hari dan 80 wenakal collect kaloth 20% aran Thai kattiyata dunnama thai aya 50% wada thiyanawa.Meka practically wenna baaa.mehema selling enna baa

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