Citizens Development Business Finance to initiate amalgamation process | Daily News

Citizens Development Business Finance to initiate amalgamation process

Citizens Development Business Finance PLC in a disclosure under section 8 of the listing rules informed that the Central Bank of Sri Lanka (CBSL) requires Citizens Development Business Finance PLC (Company) to amalgamate Unisons Capital Leasing Limited and Fortune Properties Limited where the Company shareholding is 90.38% and 99.98% respectively with the Company to comply with the regulatory requirements.

Accordingly the Board of Directors of the Company have resolved on April 8, 2019 to initiate the process for such amalgamation after obtaining independent professional advice with regard to the methodology to be adopted together with approval of relevant statutory and regulatory requirements in order to enable the same.


 

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