PEGASUS HOTELS OF CEYLON PLC
A Carson Cumberbatch Company
Condensed Interim Financial Statements
For the six months ended 30th September 2024
Pegasus Hotels of Ceylon PLC
Performance Review for the six months ended 30th September 2024
Ongoing developments in the country's tourism industry led to our hotels securing higher occupancy rates in the first half of the financial year, vis-à-vis the corresponding period. There was a notable uptake in business, especially from India and other emerging markets, due to our sales prospecting efforts. Further, a stronger events proposition contributed to sales growth during the period. However, the moderate growth trend in Average Room Rates continued due to competitive pressures. Locally, market conditions eased, though at a slower rate.
Weddings segment grew modestly, reflecting changing spending patterns and the shift towards intimate gatherings. Hence, our hotels had to rethink and refine their offerings, creating budget- friendly and all-inclusive deals. MICE (Meetings, Incentives, Conferences and Exhibitions) segment, however, was on a firmer footing compared to last year with increased corporate events, day outings and other banquet functions. Yet, price flexibility was limited due to rate wars from standalone banquet halls.
Given these factors, Pegasus Hotels Ceylon PLC and its subsidiary (The Group) posted a consolidated revenue of Rs. 534 Mn (Rs. 389 Mn 1H FY24) for the period ending 30th September 2024.
Direct and overhead expenses grew, reflecting improved business volumes. However, interest expenses decreased by Rs. 11.9 Mn YoY due to the repayment of loans from the rights issue proceeds and the lower interest cost in the market. Accordingly, the consolidated loss after tax reduced to Rs. 28 Mn in 1H FY25 from Rs. 71 Mn reported in 1H FY24. The profit before tax adjusted for depreciation was Rs. 5.2 Mn in 1H FY25 compared to a loss of Rs. 57.7 Mn in 1H FY24.
Positive industry sentiment is expected to cascade through the upcoming months, with increased visitor appeal during the winter season. Our hotels will remain committed to delivering value to our guests and to continuously driving overall service quality.
Carsons Management Services (Private) Limited
Managers
11th November 2024
Colombo
Page 1
Pegasus Hotels of Ceylon PLC
Statement of Profit or Loss and Other Comprehensive Income - Group
(All figures are in Sri Lankan Rupees Thousands)
Three months ended | Six months ended | ||||||
30th September | 30th September | ||||||
2024 | 2023 | Change % | 2024 | 2023 | Change % | ||
Revenue | 288,593 | 220,408 | 31 | 534,309 | 388,888 | 37 | |
Direct costs | (201,621) | (170,576) | 18 | (383,115) | (330,651) | 16 | |
Gross profit | 86,972 | 49,832 | 75 | 151,194 | 58,237 | 160 | |
Other income | 1,682 | 1,705 | (1) | 3,336 | 3,315 | 1 | |
Selling and promotional expenses | (23,700) | (13,318) | 78 | (37,917) | (19,792) | 92 | |
Administrative expenses | (73,425) | (61,723) | 19 | (144,566) | (120,167) | 20 | |
Profit/ (loss) from operations | (8,471) | (23,504) | (64) | (27,953) | (78,407) | (64) | |
Finance income | 245 | 3,186 | (92) | 4,857 | 4,924 | (1) | |
Finance costs | (6,239) | (9,946) | (37) | (12,589) | (24,499) | (49) | |
Net finance income/ (cost) | (5,994) | (6,760) | (11) | (7,732) | (19,575) | (61) | |
Profit/ (loss) before taxation | (14,465) | (30,264) | (52) | (35,685) | (97,982) | (64) | |
Income tax expenses | - | - | - | - | - | - | |
Deferred taxation | 1,616 | 6,272 | (74) | 7,974 | 26,990 | (70) | |
Profit/ (loss) for the period | (12,849) | (23,992) | (46) | (27,711) | (70,992) | (61) | |
Other comprehensive income | |||||||
Items that will not be reclassified to profit or loss | |||||||
Gain/ (loss) from actuarial valuation of | |||||||
employee benefits | - | - | - | - | - | - | |
Revaluation of property, plant and equipment | - | - | - | - | - | - | |
Related tax | - | - | - | - | - | - | |
Other comprehensive income/ (expense) for | |||||||
the period | - | - | - | - | - | - | |
Total comprehensive income/ (expense) for | |||||||
the period | (12,849) | (23,992) | (46) | (27,711) | (70,992) | (61) | |
Earnings / (loss) per share (Rs.) | (0.30) | (0.67) | (0.66) | (2.04) | |||
Dividend per share (Rs.) | - | - | - | - |
Change % represents the percentage change in the current period's results compared to the corresponding period of the previous year.
Figures in brackets indicate deductions.
Page 2
Pegasus Hotels of Ceylon PLC
Statement of Profit or Loss and Other Comprehensive Income - Company
(All figures are in Sri Lankan Rupees Thousands)
Three months ended | Six months ended | |||||||
30th September | 30th September | |||||||
2024 | 2023 | Change % | 2024 | 2023 | Change % | |||
Revenue | 243,063 | 179,544 | 35 | 456,001 | 319,479 | 43 | ||
Direct costs | (165,986) | (138,813) | 20 | (318,868) | (269,740) | 18 | ||
Gross profit | 77,077 | 40,731 | 89 | 137,133 | 49,739 | 176 | ||
Other income | 1,022 | 1,045 | (2) | 2,016 | 1,995 | 1 | ||
Selling and promotional expenses | (20,102) | (11,827) | 70 | (31,990) | (17,068) | 87 | ||
Administrative expenses | (60,526) | (50,252) | 20 | (119,878) | (98,184) | 22 | ||
Profit/ (loss) from operations | (2,529) | (20,303) | (88) | (12,719) | (63,518) | (80) | ||
Finance income | 227 | 3,091 | (93) | 4,765 | 4,715 | 1 | ||
Finance costs | (5,308) | (4,471) | 19 | (10,632) | (12,521) | (15) | ||
Net finance income/ (cost) | (5,081) | (1,380) | 268 | (5,867) | (7,806) | (25) | ||
Profit/ (loss) before taxation | (7,610) | (21,683) | (65) | (18,586) | (71,324) | (74) | ||
Income tax expenses | - | - | - | - | - | - | ||
Deferred taxation | (441) | 5,422 | (108) | 3,005 | 19,603 | (85) | ||
Profit/ (loss) for the period | (8,051) | (16,261) | (50) | (15,581) | (51,721) | (70) | ||
Other comprehensive income | ||||||||
Items that will not be reclassified to profit or loss | ||||||||
Gain/ (loss) from actuarial valuation of | ||||||||
employee benefits | - | - | - | - | - | - | ||
Revaluation of property, plant and equipment | - | - | - | - | - | - | ||
Related tax | - | - | - | - | - | - | ||
Other comprehensive income/ (expense) for | ||||||||
the period | - | - | - | - | - | - | ||
Total comprehensive income/ (expense) for | ||||||||
the period | (8,051) | (16,261) | (50) | (15,581) | (51,721) | (70) | ||
Earnings / (loss) per share (Rs.) | (0.19) | (0.45) | (0.37) | (1.49) | ||||
Dividend per share (Rs.) | - | - | - | - |
Change % represents the percentage change in the current period's results compared to the corresponding period of the previous year.
Figures in brackets indicate deductions.
Page 3
Pegasus Hotels of Ceylon PLC
Statement of Financial Position
(All figures are in Sri Lankan Rupees Thousands) | Group | Company | |||
31.03.2024 | 31.03.2024 | ||||
As at | 30.09.2024 | (Audited) | 30.09.2024 | (Audited) | |
ASSETS | |||||
Non-current assets | |||||
Property, plant and equipment | 2,992,789 | 3,017,378 | 2,655,725 | 2,673,699 | |
Right-of-use assets | 6,511 | 6,640 | - | - | |
Intangible assets | 168 | 336 | - | - | |
Investment in a subsidiary | - | - | 256,842 | 256,842 | |
Compensation receivable | 24,759 | 24,759 | 24,759 | 24,759 | |
Total non-current assets | 3,024,227 | 3,049,113 | 2,937,326 | 2,955,300 | |
Current assets | |||||
Inventories | 45,079 | 38,866 | 35,467 | 31,363 | |
Investment in fixed deposits | 132,776 | 88,550 | 132,776 | 88,550 | |
Trade and other receivables | 88,767 | 115,774 | 76,505 | 99,934 | |
Tax receivable | 2,230 | 2,187 | 1,664 | 1,624 | |
Cash and cash equivalents | 44,366 | 63,164 | 40,364 | 59,404 | |
Total current assets | 313,218 | 308,541 | 286,776 | 280,875 | |
Total assets | 3,337,445 | 3,357,654 | 3,224,102 | 3,236,175 | |
EQUITY AND LIABILITIES | |||||
Equity | |||||
Stated capital | 751,549 | 751,549 | 751,549 | 751,549 | |
Capital reserves | 1,783,202 | 1,783,202 | 1,598,932 | 1,598,932 | |
Revenue reserves | (340,351) | (312,640) | (137,477) | (121,896) | |
Total equity | 2,194,400 | 2,222,111 | 2,213,004 | 2,228,585 | |
Non-current liabilities | |||||
Deferred tax liability | 640,845 | 648,819 | 607,409 | 610,414 | |
Employee benefits | 23,923 | 22,366 | 17,916 | 16,476 | |
Loans and borrowings | 104,952 | 114,521 | 78,898 | 87,198 | |
Lease liability | 11,300 | 11,163 | - | - | |
Total non-current liabilities | 781,020 | 796,869 | 704,223 | 714,088 | |
Current liabilities | |||||
Trade and other payables | 209,112 | 176,648 | 173,986 | 148,795 | |
Amounts due to related companies | 40,697 | 52,855 | 23,399 | 37,437 | |
Loans and borrowings | 111,628 | 108,607 | 109,490 | 107,270 | |
Lease liability | 588 | 564 | - | - | |
Total current liabilities | 362,025 | 338,674 | 306,875 | 293,502 | |
Total liabilities | 1,143,045 | 1,135,543 | 1,011,098 | 1,007,590 | |
Total equity and liabilities | 3,337,445 | 3,357,654 | 3,224,102 | 3,236,175 | |
Net assets per share (Rs.) | 51.99 | 52.64 | 52.43 | 52.80 |
The Statement of Financial Position as at 30th September 2024 and the related Statements of Profit or Loss and Other Comprehensive Income, Changes in Equity and Cash Flows for the period then ended as disclosed in pages 2 to 6 have been drawn up from unaudited financial statements.
I certify that these financial statements are in compliance with the requirements of Companies Act, No. 7 of 2007.
(Sgd).
P.C. Pahalagamage
Group Financial Controller
Carsons Management Services (Private) Limited
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Approved and signed on behalf of the Managers, | Approved and signed on behalf of the Board, | |
(Sgd). | (Sgd). | (Sgd). |
V.R. Wijesinghe | M. Dayananda | K. Selvanathan |
Director | Chairman | Director |
Carsons Management Services (Private) Limited |
11th November 2024
Colombo
Page 4
Pegasus Hotels of Ceylon PLC
Statement of Changes in Equity
(All figures are in Sri Lankan Rupees Thousands)
GROUP | Stated | Capital | Revenue | Total |
capital | reserves | reserves | equity | |
Balance as at 01st April 2024 | 751,549 | 1,783,202 | (312,640) | 2,222,111 |
Loss for the period | - | - | (27,711) | (27,711) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (27,711) | (27,711) |
Balance as at 30th September 2024 | 751,549 | 1,783,202 | (340,351) | 2,194,400 |
Balance as at 01st April 2023 | 591,149 | 1,460,450 | (203,689) | 1,847,910 |
Loss for the period | - | - | (70,992) | (70,992) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (70,992) | (70,992) |
Rights issue of shares | 160,400 | - | - | 160,400 |
Expenses on rights issue of shares | - | - | (2,121) | (2,121) |
Balance as at 30th September 2023 | 751,549 | 1,460,450 | (276,802) | 1,935,197 |
COMPANY | Stated | Capital | Revenue | Total |
capital | reserves | reserves | equity | |
Balance as at 01st April 2024 | 751,549 | 1,598,932 | (121,896) | 2,228,585 |
Loss for the period | - | - | (15,581) | (15,581) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (15,581) | (15,581) |
Balance as at 30th September 2024 | 751,549 | 1,598,932 | (137,477) | 2,213,004 |
Balance as at 01st April 2023 | 591,149 | 1,300,983 | (66,660) | 1,825,472 |
Loss for the period | - | - | (51,721) | (51,721) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (51,721) | (51,721) |
Rights issue of shares | 160,400 | - | - | 160,400 |
Expenses on rights issue of shares | - | - | (2,121) | (2,121) |
Balance as at 30th September 2023 | 751,549 | 1,300,983 | (120,502) | 1,932,030 |
Figures in brackets indicate deductions.
Page 5
Pegasus Hotels of Ceylon PLC
Statement of Cash Flows
(All figures are in Sri Lankan Rupees Thousands)
Group | Company | ||||
For the six months ended 30th September | 2024 | 2023 | 2024 | 2023 | |
Cash flows from operating activities | |||||
Profit/ (loss) before taxation | (35,685) | (97,982) | (18,586) | (71,324) | |
Adjustments for: | (4,467) | (4,378) | |||
Interest income | (4,115) | (3,902) | |||
Unrealised foreign exchange loss/ (gain) | 674 | (810) | 674 | (813) | |
Interest expenses on loans and borrowings | 11,326 | 23,916 | 9,958 | 12,521 | |
Interest expenses on lease liability | 589 | 583 | - | - | |
Amortization of right of use assets | 129 | 129 | - | - | |
Amortization of intangible assets | 168 | 168 | - | - | |
Depreciation on property, plant and equipment | 40,907 | 40,275 | 32,513 | 32,569 | |
(Profit) / loss on disposal of property, plant and equipment | - | 1 | - | 1 | |
Provision made / (reversal of provision) for impairment of trade | |||||
receivables, net | (150) | (207) | (150) | (207) | |
Provision for employee benefits | 1,557 | 1,136 | 1,440 | 870 | |
Operating profit / (loss) before working capital changes | 15,048 | (36,906) | 21,471 | (30,285) | |
(Increase) / decrease in inventories | (6,213) | 1,255 | (4,104) | 2,630 | |
(Increase) / decrease in trade and other receivables | 27,157 | (17,558) | 23,579 | (15,378) | |
Increase / (decrease) in trade and other payables | 33,551 | 1,852 | 26,278 | (3,005) | |
Increase / (decrease) in amounts due to related companies | (12,158) | 40,290 | (14,038) | 15,490 | |
Cash generated from / (used in) operations | 57,385 | (11,067) | 53,186 | (30,548) | |
Employee benefits paid | - | (2,264) | - | (2,264) | |
Net cash generated from / (used in) operating activities | 57,385 | (13,331) | 53,186 | (32,812) | |
Cash flows from investing activities | |||||
Purchase of property, plant and equipment | (17,259) | (1,946) | (15,480) | (1,910) | |
Proceeds from disposal of property, plant and equipment | 77 | - | 77 | - | |
Investment in fixed deposits | (44,014) | (34,360) | (44,014) | (34,360) | |
Interest received | 4,212 | 3,576 | 4,126 | 3,363 | |
Net cash generated from / (used in) investing activities | (56,984) | (32,730) | (55,291) | (32,907) | |
Cash flows from financing activities | |||||
Proceeds from rights issue of shares | - | 160,400 | - | 160,400 | |
Expenses on rights issue of shares | - | (2,121) | - | (2,121) | |
Lease rentals paid | (428) | (866) | - | - | |
Loans and borrowings obtained during the period | 90,000 | 75,000 | 90,000 | 75,000 | |
Loans and borrowings repaid during the period | (96,548) | (27,571) | (96,080) | (18,777) | |
Interest paid on loans and borrowings | (11,549) | (24,016) | (10,181) | (12,621) | |
Net cash generated from / (used in) financing activities | (18,525) | 180,826 | (16,261) | 201,881 | |
Net increase / (decrease) in cash and cash equivalents | (18,124) | 134,765 | (18,366) | 136,162 | |
Effect of exchange rate changes on cash and cash equivalents | (674) | 810 | (674) | 813 | |
Cash and cash equivalents at the beginning of the period | 63,164 | 44,713 | 59,404 | 39,972 | |
Cash and cash equivalents at the end of the period | 44,366 | 180,288 | 40,364 | 176,947 | |
Statement of cash and cash equivalents | |||||
Placements with banking and financial institutions | 24,802 | 40,335 | 24,802 | 40,335 | |
Cash at bank and in hand | 19,564 | 139,953 | 15,562 | 136,612 | |
Cash and cash equivalents for the purpose of statement of cash | |||||
flows | 44,366 | 180,288 | 40,364 | 176,947 |
Figures in brackets indicate deductions.
Page 6
Pegasus Hotels of Ceylon PLC
Notes to the Interim Financial Statements
(All figures are in Sri Lankan Rupees Thousands unless otherwise stated)
-
BASIS OF PREPARATION OF INTERIM FINANCIAL STATEMENTS
The Interim Financial Statements of Pegasus Hotels of Ceylon PLC (the "Company") and its Subsidiary (together referred to as the "Group") have been prepared using the same accounting policies and methods as the audited financial statements for the year ended 31st March 2024, and are in compliance with Sri Lanka Accounting Standard LKAS 34 - "Interim Financial Reporting". The provisions of the Companies Act, No. 7 of 2007 have been considered in preparing these Interim Financial Statements. - RIGHTS ISSUE OF SHARES
The Company issued 8,442,094 ordinary shares through a rights issue to a ratio of one (01) new share for every four (04) shares held at Rs.19/- per share and raised Rs. 160,399,786/-. These shares were listed on the Colombo Stock Exchange on 08th September 2023.
Rights issue proceeds utilization as at 30th September 2024: | Clarification if | |||||||
Amount | not fully | |||||||
Proposed | allocated | utilized | ||||||
Amount | date of | upon the | Amount | % utilized | including | |||
Objective as | allocated as | utilization | receipt of | utilized in the | against | where the | ||
per the | per Circular | as per | proceeds in | As a % of total objective Rs. | allocation | funds are | ||
Circular | in Rs. | Circular | Rs. [A] | proceeds | [B] | [B/A] | invested | |
1 | Subscribe to | 120,399,786 | Before 31st | 120,399,786 | 75.06% | 120,399,786 | 100.00% | N/A |
the rights | October | |||||||
issue of the | 2023 | |||||||
subsidiary, | ||||||||
Equity Hotels | ||||||||
Limited | ||||||||
2 | Finance the | 40,000,000 | Before 31st | 40,000,000 | 24.94% | 16,252,743 | 40.63% | To be utilized |
capital | December | before 31st | ||||||
expenditure of | 2024 | December | ||||||
the Company | 2024 as | |||||||
disclosed in | ||||||||
the Rights | ||||||||
Issue Circular. | ||||||||
Unutilized | ||||||||
funds are | ||||||||
invested in | ||||||||
fixed deposits. |
- EVENTS AFTER THE REPORTING PERIOD
Subsequent to the reporting period, no circumstances have arisen which would require adjustments to or disclosure in the financial statements. - COMMITMENTS AND CONTINGENCIES
-
Capital commitments
The Group does not have material capital commitments as at the reporting date, other than capital commitments of the Company for refurbishment projects amounting to Rs.4,529,447/- (31st March 2024: Rs.8,891,170/-). - Financial commitments
The Group does not have material financial commitments as of the reporting date other than those disclosed in note 9.1.
Page 7
Pegasus Hotels of Ceylon PLC
Notes to the Interim Financial Statements
(All figures are in Sri Lankan Rupees Thousands unless otherwise stated)
4. COMMITMENTS AND CONTINGENCIES (CONTD.)
4.3 Contingent liabilities
The Group does not have material contingent liabilities as at the reporting date other than disclosed below.
An individual after having lost the cases he filed in the District Court and Civil Appellate Courts of Negombo, claiming declaratory title from court stating that he is the co-owner of 127.5 perches of land that belonged to the Company, has appealed to the Supreme Court and the case is listed to be heard on 20th January 2025 to decide on leave to proceed. The claimed land extent falls within the 1,251 perches of land acquired by the Government for the fisheries harbour project. Since the crystallization of the contingent liability is subject to this appeal and the subsequent value determination of the claim by the Government valuer, said contingent liability cannot be quantified.
-
LIABILITIES FOR EXPENDITURE
Management fees and other similar expenses for the period have been accounted for in full in the interim financial statements. - COMPARATIVE FIGURES
Previous period's figures and phrases have been re-arranged where necessary to conform to the current period's presentation. - GOING CONCERN
Based on currently available information, the directors are satisfied that the Group will continue its operations in the foreseeable future. - STATED CAPITAL
The stated capital of the Company as at the reporting date was Rs. 751,548,321/50 consists of 42,210,470 fully paid Ordinary Shares. - RELATED PARTY TRANSACTIONS
9.1 Transactions with related companies
Group | Company | ||||
For the six months ended 30th September | 2024 | 2023 | 2024 | 2023 | |
Parent Company- Carson Cumberbatch PLC | |||||
Proceeds from rights issue of shares | - | - | - | 144,334 | |
Short term advances obtained/ (settled), net | - | 24,800 | - | - | |
Fellow subsidiary- Carsons Management Services (Private) Limited | |||||
Receiving of services | 3,531 | 3,531 | 2,901 | 2,901 | |
Fellow subsidiary- Lion Brewery (Ceylon) PLC | |||||
Providing of hotel services | 5,462 | - | 5,462 | - |
The Company has obtained Letters of Comfort with a value of Rs. 176.5 Million as at the reporting date (31st March 2024: Rs.176.5 Million) from the parent company, Carson Cumberbatch PLC for the bank facilities obtained.
9.2 Amounts due to related companies | ||||||
Group | Company | |||||
31.03.2024 | 31.03.2024 | |||||
As at | 30.09.2024 | (Audited) | 30.09.2024 | (Audited) | ||
Carson Cumberbatch PLC | 8,500 | 8,500 | - | - | ||
Carsons Management Services (Private) Limited | 32,197 | 44,355 | 23,399 | 37,437 | ||
40,697 | 52,855 | 23,399 | 37,437 |
Page 8
Pegasus Hotels of Ceylon PLC
Notes to the Interim Financial Statements
(All figures are in Sri Lankan Rupees Thousands unless otherwise stated)
10. TWENTY MAJOR SHAREHOLDERS AS AT 30TH SEPTEMBER 2024 | Number of | ||
Name of Shareholder | Shares | % | |
1 | Carson Cumberbatch PLC A/C No.2 | 37,982,617 | 89.98 |
2 | Mr. C. Sathkumara | 357,963 | 0.85 |
Merchant Bank of Sri Lanka Ltd/C. Sathkumara | 147,302 | 0.35 | |
3 | Senkadagala Finance PLC/Mr. M.C.C.K. Rodrigo | 346,535 | 0.82 |
4 | People's Leasing and Finance PLC/Suhada Gas Distributors (Pvt) Ltd | 316,719 | 0.75 |
5 | Mr. K.C. Vignarajah | 262,055 | 0.62 |
6 | Mrs. V.R. Jayasinghe | 151,729 | 0.36 |
7 | Gulf East Finance Limited | 95,514 | 0.23 |
8 | Mr. K.C. Jayawardene | 94,058 | 0.22 |
9 | Mr. N.W.N. Jayasiri | 80,000 | 0.19 |
10 | J.B. Cocoshell (Pvt) Ltd | 74,276 | 0.18 |
11 | Mr. S.A.U.L. Jayarathna | 68,498 | 0.16 |
12 | Mr. A.M. Weerasinghe | 63,888 | 0.15 |
13 | Mrs. I. Gwyn | 55,000 | 0.13 |
14 | Miss. L.A. Jayasinghe | 50,000 | 0.12 |
15 | Mr. W.D.D. Samantha | 48,124 | 0.11 |
16 | Mr. A.R.H. Sarathchandra | 47,933 | 0.11 |
17 | Mr. M.F.J. Macan Marker | 46,255 | 0.11 |
18 | Mr. P. Somadasa | 44,083 | 0.10 |
19 | Mr. K.K.D. Senanayake | 43,750 | 0.10 |
20 | Mr. H.A.S Madanayake | 40,000 | 0.10 |
11. PUBLIC HOLDING
The Company is in compliance with the Minimum Public Holding requirements for Companies listed on the Diri Savi Board as per Rule 7.13.1 (i) (b) of the Listing Rules of the Colombo Stock Exchange, under Option 2, i.e. Float- Adjusted Market Capitalization of less than Rs.1 Billion with 200 Public Shareholders and a Public Holding percentage of 10%.
The Company's Public Holding as at 30th September 2024 | ||
Float adjusted Market Capitalization | Rs.120,117,490.27 | |
Number of Public Shareholders | 2,936 | |
Percentage of ordinary shares held by the public | 10.02% | |
12. | DIRECTORS SHAREHOLDING AS AT 30TH SEPTEMBER 2024 | No. of Shares |
Mr. M. Dayananda (Chairman) | - | |
Mr. K. Selvanathan | - | |
Mr. S. R. Mather (Resigned w.e.f. 31st July 2024) | - | |
Mr. M. T. L. Elias | - | |
Mr. V. R. Wijesinghe | - | |
Mr. S. Marimuthu (Appointed w.e.f. 31st July 2024) | 400 | |
Mr. D.R.P. Goonetilleke (Appointed w.e.f. 31st July 2024) | - | |
Mr. A.S. Amaratunga (Appointed w.e.f. 25th September 2024) | - | |
INVESTOR INFORMATION | ||
13. | SHARE VALUATION | |
As at/ for the three months ended 30th September 2024 | ||
Last traded price per share (Rs.) | 28.40 | |
Highest price per share (Rs.) | 33.00 | |
Lowest price per share (Rs.) | 23.20 | |
Market capitalisation (Rs.) | 1,198,777,348.00 |
Page 9
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