Janashakthi PLC acquires 31-pct stake in Dunamis Capital

Sept 13, 2018 (LBO) – Janashakthi PLC acquired 31.14 percent in Dunamis Capital PLC, Dunamis Capital said in a stock exchange filing.

Accordingly, a total of 38,294,562 ordinary shares in Dunamis Capital has been purchased at a price of 36.60 rupees per share.

Janashakthi PLC now owns a total of 50,595,736 shares in Dunamis representing 41.14 percent of the voting rights of Dunamis.

Janashakthi said a mandatory offer will be made to the remaining shareholders of Dunamis to acquire the ordinary shares held by such shareholders in Dunamis.

Shareholder Number of Shares Percentage
First Capital Markets Limited/Next Ventures Limited 19,244,562 15.65%
People’s Leasing and Finance PLC/Mr. D. Schaffter 19,050,000 15.49%
Total 38,294,562 31.14%

C T A Schaffter (Director of Janashakthi) is the father and P A Schaffter & R Schaffter (Shareholders and Directors of Janashakthi) are the brothers of D Schaffter (Seller and Director of Nextventures) and M Mathews (Director of Nextventures).