SDB.N0000 (Sanasa Development Bank Plc)

[blacknights]

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?)

[malanp]

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..

[blacknights]

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

[HAL9000Top contributor]

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

[blacknights]

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

I was to ask the same question HAL9000    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)