Stock Market Indicators:

ASI: 6,447.6 (down 26 points, -0.40%), S&P SL20: 3,747.2 (down 20 points, -0.53%)

Turnover: Rs.885mn (-9%)

Exchange Rate 1US$ = Rs.153.91

Market Capitalization: US$19.2bn

Foreign Purchases: Rs.743mn (-0%)

Foreign Sales: Rs.204mn (-69%)

Hatton National Bank – Voting (HNB-N – Rs.250.0) emerged as the top contributor to turnover with Rs.537mn (2.1mn shares), followed by Ceylon Cold Stores (CCS – Rs.950.0) with Rs.136mn turnover (0.1mn shares) and Central Finance Company (CFIN – Rs.100.0) with Rs.57mn turnover (0.6mn shares)

CSE Announcement:

The Colombo Stock exchange (CSE) disclosed details pertaining to the rights issue of Lankem Developments (LDEV). Accordingly, 60mn ordinary voting shares are to be issued in the proportion of 1:1, at a consideration of Rs.2.5 per share to raise a sum of Rs.150mn.

Corporate Announcements:

Lanka Ventures (LVEN) and LVL Energy Fund (LVEF) disclosed that they were not in compliance with the minimum requirement of the number of independent non-executive directors, as required by the listing rules of the Colombo Stock Exchange (CSE) with the demise of an independent non-executive director. The company is in the process of taking steps to comply with the said requirement.

Kotagala Plantations (KOTA) disclosed that all existing share certificates which were in issue and held by the shareholders as at the end of trading on 09 Jan 2018, are deemed cancelled.

Sri Lanka Telecom (SLTL) disclosed an amendment pertaining to its debenture issue. Accordingly, it was announced that 50mn, 10 year, senior, unsecured, redeemable, debentures are to be issued at an issue price of Rs.100 each, to raise Rs.5bn with an option to issue a further 20mn debentures in the event of an oversubscription.

Anilana Hotels and Properties (ALHP) disclosed that the case filed by Millennium Housing Developers (MHDL) against ALHP in the Commercial High Court of Colombo has been duly settled. Accordingly, proceedings of the above case has been terminated on 12 January 2018.

Asia Capital (ACAP) and MTD Walkers (KAPI) disclosed that they were not in compliance with the minimum public shareholding as required by the listing rules of the Main Board of the Colombo Stock Exchange (CSE) as at 31 December 2017.

CT CLSA – Daily Report – 16 January 2018