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SDB.N0000 (Sanasa Development Bank Plc) EmptyYesterday at 8:18 pm by ruwan326

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SDB.N0000 (Sanasa Development Bank Plc)

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SDB.N0000 (Sanasa Development Bank Plc) Empty SDB.N0000 (Sanasa Development Bank Plc)

Post by blacknights on Mon Dec 21, 2015 7:25 am

In their 2014 annual report, they have mentioned about a possible right issue during this year in order to comply with CB's minimum capital requirement. Yet no sign of it although their 2015 financial year is almost over.

Anyone having any info? Have they postponed it or completely abandoned the idea? (Have they achieved the CB's requirement from a different method, in my view they have not. Or CB itself have changed the requirement or the deadline?)

blacknights
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SDB.N0000 (Sanasa Development Bank Plc) Empty Re: SDB.N0000 (Sanasa Development Bank Plc)

Post by malanp on Mon Dec 21, 2015 7:28 am

blacknights wrote:In their 2014 annual report, they have mentioned about a possible right issue during this year in order to comply with CB's minimum capital requirement. Yet no sign of it although their 2015 financial year is almost over.

Anyone having any info? Have they postponed it or completely abandoned the idea? (Have they achieved the CB's requirement from a different method, in my view they have not. Or CB itself have changed the requirement or the deadline?)


CBSL extended capital requirement to 31 Dec 2016..

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SDB.N0000 (Sanasa Development Bank Plc) Empty Re: SDB.N0000 (Sanasa Development Bank Plc)

Post by blacknights on Mon Dec 21, 2015 7:36 am

Thanks malanp,

So the next right issue will come sometime during 2016. Or will they have achieved the minimum capital requirement internally using their own profits by that time.
Usually SDB is a high dividend paying counter. They have the option of keeping themselves the cash and issue scrip dividends.  
Interesting situation Exclamation
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SDB.N0000 (Sanasa Development Bank Plc) Empty Re: SDB.N0000 (Sanasa Development Bank Plc)

Post by HAL9000 on Mon Dec 21, 2015 6:29 pm

[You must be registered and logged in to see this link.]

Here comes the debenture issue. So we may not get a rights issue ?
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SDB.N0000 (Sanasa Development Bank Plc) Empty Re: SDB.N0000 (Sanasa Development Bank Plc)

Post by blacknights on Mon Dec 21, 2015 6:38 pm

HAL9000 wrote:[You must be registered and logged in to see this link.]

Here comes the debenture issue. So we may not get a rights issue ?

I was to ask the same question HAL9000  Shocked  haha

As I feel they owe investors an explanation (particularly because in the annual report mentioning about a right issue, in case of changing plans, they must inform shareholders about any change, at least ethically if not required by law)
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