Singer (Sri Lanka) PLC, has offered to sell its controlling interest
- BackstageTop contributor
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Join date : 2014-02-24
Singer (Sri Lanka) PLC, has offered to sell its controlling interest
Following a review of the management structure of the overall operations of Singer Asia Limited, Singer (Sri Lanka) BV which is the parent company of Regnis (Lanka) PLC, Singer Industries (Ceylon) PLC and Singer (Sri Lanka) PLC, has offered to sell its controlling interest in Regnis (Lanka) PLC and Singer Industries (Ceylon) PLC to Singer (Sri Lanka) PLC.
The present shareholding of Singer (Sri Lanka) BV is as follows:
Regnis (Lanka) PLC – 6,568,461 shares which is 58.29 per cent
Singer Industries (Ceylon) PLC – 3,213,600 shares which is 83.55 per cent
The purchase would result in Singer (Sri Lanka) PLC being the holding company of both Regnis (Lanka) PLC and Singer Industries (Ceylon) PLC.
The Board has recommended the management of Singer (Sri Lanka) PLC to evaluate and advise the Board on this proposal.
- nihal123Top contributor
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Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
- malanp
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Join date : 2014-03-04
Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
It is an internal transfer, the ownership of Regnis goes to SINS from Singer SriLanka BV..
- slstockVeteran
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Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
I logged on to make this comment for public info as the news is public info
- jiggysaurusTop contributor
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Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
- RPPATop contributor
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Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
slstock wrote:Has anyone really analysed or understood what this news says
I logged on to make this comment for public info as the news is public info
SINS will become the ultimate parent company of SINI & REG. So SINS will be the beneficiary.
- slstockVeteran
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Join date : 2014-06-12
Re: Singer (Sri Lanka) PLC, has offered to sell its controlling interest
jiggysaurus wrote:Ayyo warade backside headline ne, as Malan says this is the foreign BV dumping stakes to local PLC. SINS will have to spend money to buy.