John Keells Holdings Announces Major Rights Issue and Share Sub-Division Sri Lanka Business News

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Both the Rights Issue and the Share Sub-division are contingent on approvals from the Colombo Stock Exchange and JKH shareholders at an upcoming Extraordinary General Meeting. Additionally, adjustments will be made to the outstanding convertible debentures issued by JKH to HWIC Asia Fund to reflect the impact of these corporate actions. The defendants were charged with robbery and aiding and abetting under sections including Section 383 of the Penal Code. Winds will be westerly to south-westerly and wind speed will be (30-40) kmph.

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Sri Lanka Cricket felicitated the victorious national women’s team at a special ceremony held last evening in Colombo. Honorable Minister of Sports and Youth Affairs Harin Fernando took part in the ceremony as the Chief Guest at the invitation of President of… 30th July 2024 Media Release The Sri Lanka Cricket Selection Committee selected the below-given 16-member squad to play in the ODI series of the ongoing India Tour of Sri Lanka 2024. The Honorable Minister of Sports and Youth Affairs, Harin Fernando, approved the… By Srian Obeyesekere New look India outplayed Sri Lanka to a comprehensive 3-0 T20 Series success with the hosts batting vulnerability once again exposed by crashing from a winning 110 for 2 high to being bowled out for 137 in a tied contest that was won by the…

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Sri Lanka Cricket will host the ICC Annual Conference from July 19 to 22

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In conjunction with the Rights Issue, JKH’s Board of Directors has also proposed a Sub-division of shares. Post-Rights Issue, each existing Ordinary Share will be sub-divided into ten new shares, increasing the total number of shares from 1,652,899,552 to 16,528,995,520, assuming full subscription to the Rights Issue. The ‘Cinnamon Life’ hotel, along with its restaurants and banquet facilities, is slated to open in October 2024. The gaming operations and retail mall will commence in phases, with overall completion expected by mid-2025. The Board of Directors of JKH resolved to recommend to shareholders the issuance of 150,263,595 new Ordinary Shares. These shares will be offered on a 1-for-10 basis at a price of Rs.160 per share, potentially raising Rs.24,042,175,200.

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• John Keells Holdings PLC (JKH) has revealed a pivotal corporate strategy that includes a Rights Issue of Ordinary Shares, followed by a Share Sub-division.
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