Merchant bank of sri lanka & finance plc (“the company”) – rights issue 2021
Filed with CSE ·
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Earlier from Mbsl.P0000n
- MERCHANT BANK OF SRI LANKA & FINANCE PLC – RIGHTS ISSUE 2021 Further to our previous announcement dated 30th July 2021we wish to inform you that pursuant to the implementation of the Delivery Vs Payments (DVP) system, the dates of the Rights issue are as follows; The date of the EGM 18th August 2021 Ex-rights (XR) date – Market day following the EGM 19th August 2021 Record date and date of Provisional Allotment 23rd August 2021 Date of dispatch of Provisional Letters of Allotment 30th August 2021 Date of commencement of trading of Right Shares 3rd September 2021 Last date of renunciation to CDS 10th September 2021 The last date of acceptance and payment for Right Shares 16th September 2021 The share transfer books of the Company will be kept open.
- An Extraordinary General Meeting of Merchant Bank of Sri Lanka & Finance PLC will be held at the Board Room (18th Floor) of Merchant Bank of Sri Lanka & Finance PLC, BOC Merchant Tower, No.28 St. Michael's Road, Colombo 3 on Wednesday 18th August 2021 at 10: 00 a.m. via Microsoft TEAMS Online Meeting Platform without the physical presence of the Shareholders, due to the prevailing COVID-19 pandemic in the country
- MERCHANT BANK OF SRI LANKA & FINANCE PLC – RIGHTS ISSUE 2021 We write with reference to your letter dated 29th July 2021 granting in principle approval for the proposed Rights issue. The Extraordinary General Meeting (EGM) of the Company will be held on 18th August 2021 at 10.00 a.m. as a virtual meeting, which will be conducted in accordance with the Guidelines issued by the Colombo Stock Exchange (CSE) in conducting General Meetings in order to obtain the approval of the shareholders for the proposed Rights Issue. The dates of the Rights issue are as follows; The date of the EGM and Provisional Allotment 18th August 2021 Ex-rights (XR) date – Market day following the EGM 19th August 2021 Date of dispatch of Provisional Letters of Allotment 25th August 2021 Date of commencement of trading of rights 31st August 2021 Last date of renunciation to CDS 7th September 2021 The last date of acceptance and payment for rights 8th September 2021
- ANNOUNCEMENT TO THE EXCHANGE Number of Directors comprising the Board of Directors of Merchant Bank of Sri Lanka & Finance PLC (MBSL) – 08 (eight). Details of non-compliance Minimum number of directors as per Listing Rule Current status (number of directors) 1) Composition of Independent Directors in the Board 03 Independent Directors (1/3 of non-executive directors) 02 Independent Directors Declaration Merchant Bank of Sri Lanka & Finance PLC hereby declares that the Entity has failed to comply with the Corporate Governance Requirements set out in Rule 7.10 of the CSE Listing Rules to the extent disclosed above.
- ANNOUNCEMENT TO THE EXCHANGE with regard to Corporate Governance Requirements set out in Rule 7.10 of the CSE Listing Rules.
Later from Mbsl.P0000n
- Minimum Public Holding as a Continuous Listing Requirement Announcement Under Section 7.13.2 of the Listing Rules
- REVISION OF COMPANY RATING BY ICRA LANKA LIMITED Merchant Bank of Sri Lanka & Finance PLC (MBSL) wishes to advise the Colombo Stock Exchange that the ICRA Lanka Limited has reaffirmed the issuer rating of MBSL at [SL]BBB+ (Pronounced as S L Triple B plus) as per the Report issued on 1st November 2021. The outlook has been revised to Stable from Negative. Further we wish to advise the Colombo Stock Exchange that the ICRA Lanka has also reaffirmed the issue rating of LKR 2,000 Mn Subordinated Unsecured Redeemable Debenture Programme at [SL]BBB (Pronounced as S L Triple B) while revising the outlook to Stable from Negative.
- MERCHANT BANK OF SRI LANKA & FINANCE PLC (MBSL) MINIMUM PUBLIC HOLDING AS A CONTINUOUS LISTING REQUIREMENT ANNOUNCEMENT UNDER SECTION 7.13.2 OF THE LISTING RULES In terms of Section 7.13.2 of the Listing Rules of the Colombo Stock Exchange, we wish to inform you the following: (i) MBSL is non-compliant with the Minimum Public Holding Requirement specified in Rule 7.13.1 (a) of the Listing Rules with effect from 1st November 2021. Pursuant to listing of 358,665,096 shares of the Rights Issue on 1st October 2021, the public float of the Company dropped to 15.50%. (ii) Status of the Company as of 31st December 2021 is given below: a. Existing Float Adjusted Market Capitalization - Rs. 479,643,874.80 b. Public Holding Percentage - 15.50% c. Number of Public Shareholders - 11,324 (iii) Steps to be adopted by the Listed Entity to comply with the Minimum Public Holding Requirement will be notified in a subsequent quarterly market announcement.
- Unusual Trading Activity in the securities of Merchant Bank of Sri Lanka & Finance PLC (MBSL.N0000) We refer to your letter dated 4th January 2022 received from Head of Trading Operations, Market Surveillance & Corporate Affairs. In terms of section 8.4 (a) of the CSE Listing Rules, we wish to confirm that there is no undisclosed price sensitive information with the Company in relation to Merchant Bank of Sri Lanka & Finance PLC.
- Dear Valued Shareholder, In the interest of safeguarding the well-being of the shareholders due to the potential health risks created by Covid -19 pandemic and having considered related governmental health and safety guideline, guidelines issued by the Colombo Stock Exchange on holding virtual shareholder meetings and relevant statutory provisions, the 40th Annual General Meeting (AGM) of Merchant Bank of Sri Lanka & Finance PLC (the Company) will be held by virtual means on 31st May at 10.00 a.m. We are pleased to forward herewith the Administrative Details, Notice of Meeting and Form of Proxy for the 40th AGM of the Company. Kindly be informed that the Annual Report 2021 of the Company is published and available for downloading on the Company’s website (www.mbslbank.com) as well as on the website of the Colombo Stock Exchange (www.cse.lk). You may also scan the QR Code given below to directly access the Company’s Annual Report 2021.
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