DCSL to suspend share transactions from Oct until public float restores

Aug 23, 2016 (LBO) – Sri Lanka’s Distilleries Company in a stock exchange filing says the trading in shares will be suspended starting from October until the public float in DCSL is restored.

Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from the CSE subject to necessary approvals.

Accordingly, shareholders in the DCSL register at the end of trading on 30th September will be entitled to the allotment of four voting ordinary shares of Melstacorp for every one DCSL share held by such shareholders.

The decision is subject to the special resolution being passed by the shareholders at the EGM convened for 6 September and the Court sanctioning the arrangement on the 7 September being the date fixed for the next hearing.

Related: Melstacorp to become Distilleries parent, 180-degree share swap