August 14, 2007 (LBO) – The Finance Company (TFC), the flagship finance company of Sri Lanka’s Ceylinco group said it was putting off a cash call due to depressed market conditions. The firm’s company secretary P S Watson said in a stock exchange filing that the company had put off the cash for next year “due to prevailing market conditions”.
TFC was planning a non-voting share issue. Non-voting shares have the same dividend entitlement as ordinary shares but without voting rights.
They usually trade at a discount to ordinary shares.
TFC shares closed down 75 cents at 50.00 rupees Monday.