IPOs in electronic form

NEWS ALERT: All 2011 IPOs will be electronic, if u got share CERTIFICATES, need to lodge them

1. All IPOs from Jan 2011 will be in electronic form and no share certificates to be issued.
2. All those holding paper share certificates of currently listed Co's will have to deposit them @ CDS before END 2011.-

The Securities and Exchange Commission of Sri Lanka (SEC) has directed the Colombo Stock Exchange (CSE) and Central Depository Systems (Pvt) Ltd (CDS) to mandate the lodging of securities certificates pertaining to all listed securities at the CDS and thereby implement a system of full dematerialisation of all listed securities at the CDS.

The term full dematerialisation refers to the process of converting physical securities certificates of listed securities to a scripless (paperless) or electronic form by way of lodging the respective physical securities certificates into the respective CDS accounts of shareholders.
At present around 60% of shares are lodged in the CDS and the balance remain in certificate form.
The SEC has directed the CSE/CDS to implement the above process in the following manner.
To mandate securities of new listings to be in dematerialised form (electronic) form with effective from 1 January 2011
All applicants for IPO’s which open for subscription on or after 1.1.2011 must therefore open a CDS account and indicate their respective CDS account numbers in the IPO application form. The Company Secretary/Registrar would not issue securities certificates to the applicants who do not have valid CDS accounts.
To mandate securities of all existing listed companies which have obtained a listed status before 1 January 2011 to be in dematerialised form within a transitional period of one year from 1 January 2011.

BFL Bairaha to build new state-of-the-art chicken farm

Thursday, 16 December 2010 13:04 Feizal Samath

Sri Lanka’s Bairaha Farms is setting up a state-of-the-art broiler (chicken) farm on 48 acres at Anamaduwa in the Puttalam district, the company announced on Thursday.

The farm will be created in line with international farms and standards. “The size of each poultry house will be much bigger, and the specifications of these buildings will be technically more advanced to enable us to maintain outstanding hygiene and cleanliness than possible with farms currently operating in Sri Lanka,” Yakooth Naleem, Bairaha Managing Director said in the statement.
In a filing at the Colombo Stock Exchange, Bairaha – a pioneer chicken producer – said it signed an agreement with the Board of Investment (BOI) to give effect to this proposal.

The project, to be set-up under a new company subsidiary called Nature’s Best Industry Ltd, will enjoy a 10-year tax holiday from the first year of making profits.
The expected investment in the first year is Rs 120 million with the total, additional investment in the second and third year being Rs 240 million.

“We expect this will increase our commercial broiler production by 20 % in the first year, 20 % in the second year and 15 % in the third year,” Mr Naleem said in the statement. The first batch of chickens from this farm will be ready by April/May 2011.

LLUB 4 dividends per annum

DIVIDEND ANNOUNCEMENT - LLUB

15-Dec-2010  DIVIDEND ANNOUNCEMENT - LLUB  

CHEVRON LUBRICANTS LANKA PLC
Company ID: - LLUB
Date of Announcement:-15.Dec.2010
Rate of Dividend: - Rs.3 per share fourth Interim Dividend
Financial Year: - 2010
XD:-27-Dec-2010
Payment: - 05.Jan.2011
Share Transfer Book Open