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    EDEN.N0000   LK0214N00003

EDEN HOTEL LANKA PLC

(EDEN.N0000)
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Eden Hotel Lanka PLC (COSE:EDEN.N0000) offered to acquire remaining 43.41% stake in Serendib Hotels PLC (COSE:SHOT.N0000) for approximately LKR 470 million.

12/21/2020 EDT

Eden Hotel Lanka PLC (COSE:EDEN.N0000) offered to acquire remaining 43.41% stake in Serendib Hotels PLC (COSE:SHOT.N0000) for approximately LKR 470 million on December 18, 2020. Under the terms of the transaction, Eden Hotel Lanka PLC offered to acquire 32.78 million ordinary shares at LKR 14.20 per share. Eden Hotel Lanka PLC intends to continue operations of Serendib Hotels PLC as a going concern. Eden Hotel Lanka PLC does not intend to implement any major changes to the business of Serendib Hotels PLC. Eden Hotel Lanka PLC does not intend terminating the services of any employees of Serendib Hotels PLC. The transaction is subject to unconditional acceptance by shareholders of Eden Hotel Lanka PLC, where Eden Hotel Lanka PLC must accept and pay for all shares tendered at the offer price, while the shareholders of Serendib Hotels lose their right to withdraw the shares. Eden Hotel Lanka PLC having acquired Shares carrying more than 50% of the voting rights, Eden Hotel Lanka PLC declares that this Offer is unconditional as to acceptances at the very outset. As reported on January 15, 2021, the offer was declared unconditional. The transaction was approved by Securities and Exchange Commission of Sri Lanka and Colombo Stock Exchange. The offer period will start from January 8, 2021 to will close on January 29, 2021. As on January 29, 2021, the offer period is extended and the new closing date of the Offer will be seven days from the date of dispatch of the Independent Advisor's Report and the Directors views, comments and advice to the shareholders by the Offeree. Shashikala de Mel of P.W. Corporate Secretarial (Pvt) Ltd. acted as a manager and registrar to Serendib Hotels.


ę S&P Capital IQ 2020
All news about EDEN HOTEL LANKA PLC
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02/10EDEN HOTEL LANKA PLC (COSE : EDEN.N0000) completed the acquisition of additional 0.24% sta..
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2020EDEN HOTEL LANKA PLC (COSE : EDEN.N0000) offered to acquire remaining 43.41% stake in Sere..
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2020Eden Hotel Lanka PLC Reports Earnings Results for the Second Quarter Ended September 30..
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2020Eden Hotel Lanka plc Reports Earnings Results for the Fourth Quarter Ended March 31, 20..
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2020Eden Hotel Lanka plc Reports Earnings Results for the Third Quarter Ended December 31, ..
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2019Eden Hotel Lanka plc Reports Earnings Results for the Second Quarter Ended September 30..
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2019Eden Hotel Lanka plc Announces Unaudited Consolidated and Standalone Earnings Results f..
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Financials
Sales 2021 751 M 3,76 M 3,76 M
Net income 2021 -1 336 M -6,68 M -6,68 M
Net Debt 2021 9 331 M 46,7 M 46,7 M
P/E ratio 2021 -1,77x
Yield 2021 -
Capitalization 16 896 M 84,3 M 84,5 M
EV / Sales 2020 8,12x
EV / Sales 2021 19,7x
Nbr of Employees 253
Free-Float 4,29%
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Managers and Directors
Waduthantri Dharshan Kapila Jayawardena Non-Executive Chairman
Don Soshan Kamantha Amarasekera Independent Non-Executive Director
Jayanta Mootatamby Swaminathan Independent Non-Executive Director
Mohamed Thassim Ahamed Furkhan Non-Executive Director
Stefan Furkhan Non-Executive Director