Sampath recommends consolidation and sub division of shares

The Board of Directors of Sampath Bank PLC at a meting held on 28th January 2010 resolved to recommend to the shareholders a consolidation and sub-division (splitting ) of the existing 68,887,628 ordinary shares of the Company, without any change to the Stated Capital of the Company of Rs. 1,581,653,657/-, subject to obtaining shareholders’ approval at a General Meeting for the said purpose and for the amendments to be made to the Articles of Association in that regard.
Details of the proposed consolidation and subdivision of shares The Company would in the first instance, consolidate every existing ten (10) shares to one (1) share, which would result in the existing 68,887,628 shares being reduced to 6,888,762 shares and thereupon subdivide every one (1) share so consolidated in to eleven (11) shares which would result in 6,888,762 Shares (resulting from the consolidation) being sub-divided into 75,776,390 shares.
Upon the aforesaid consolidation and the subdivision the resulting number of shares would be 75,776,390. Shareholders would in effect receive one (1) shares for every ten (10) shares held by them.
The stated capital would not change due to the above consolidation and subdivision.

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At right, the newly renovated Blood Bank at Lady Ridgeway Hospital being opened by Health Minister Nimal Siripala de Silva, in the presence of Sri Lanka Telecom Chairperson Mrs. Leisha De Silva Chandrasena, Mahanama Rajamanthri (Director of Lady Ridgeway Hospital) and other hospital directors. The renovations have been carried out by the employees of Sri Lanka Telecom workshop.