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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyThu Mar 30, 2023 9:25 am by yellow knife

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

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Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

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» Re-activating
Ceylon Hotels Corp to reduce capital to clear carry forward losses EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
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» Banks, Finance & Insurance Sector Chart
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» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
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» Capital Trust Broker in difficulty?
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» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
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» What Industry Would You Choose to Focus?
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» Should I Stick Around, or Should I Follow Others' Lead?
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    Ceylon Hotels Corp to reduce capital to clear carry forward losses

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    • Post n°1

    Ceylon Hotels Corp to reduce capital to clear carry forward losses Empty Ceylon Hotels Corp to reduce capital to clear carry forward losses

    Post by Backstage Mon Jul 11, 2016 11:48 am


    Ceylon Hotels Corp to reduce capital to clear carry forward losses
    Author LBO
    on July 7, 2016 |

    July 07, 2016 (LBO) – Ceylon Hotels Corporation has called an EGM in September to seek shareholder approval for the reduction of its stated capital to wipe off their carry forward losses.

    The directors have proposed to reduce the stated capital of the company from 1.22 billion rupees to 198.5 million rupees while setting off a carry forward loss of 1.02 billion rupees.

    “The losses adversely affect the Company’s ability to pay a dividend to its shareholders,” the company said in a stock exchange filing.

    “Furthermore, the ‘Solvency Test’ requirements have to be satisfied prior to any dividend distribution in the future.”

    The company had 171,825,401 ordinary shares and a carry forward loss of 1.02 billion rupees by the end of March 2016.

    Comments:
    Are shareholder dividends the most important thing in this day and age where dividends are a thing of the past and the money should be reinvested in the company so that shareholders can see capital gains? Seems like an idiotic move, and the idiotic shareholders will give them the mandate to proceed.
    3 days ago

    Upul

    Seems like this is an approach to sell off the entity for a lower consideration
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