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Sri Lanka Equity Forum » Stock Market Talk » Citrus Group restructuring

Citrus Group restructuring

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1 Citrus Group restructuring on Sat Oct 15, 2016 11:08 am

PrasannaMani

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Sunday Times –Business Times
Citrus announces strategic corporate restructure
The Citrus Group of Companies owning the new Sri Lankan leisure brand ‘Citrus’ announced in a statement this week of an overall strategic restructuring plan of its group subject to relevant regulatory approvals, shareholder approvals and conditions.  This entails Hikkaduwa Beach Resort PLC (CITH) making a voluntary offer to shareholders of Waskaduwa Beach Resort PLC (CITW) and CITH amalgamating with Kalpitiya Beach Resort PLC (CITK) and Passikudah Beach Resort Ltd (PBR) at a premium price (to market) to shareholders. “The proposed strategic restructuring under the guidance and advice of NDB Investment Bank Ltd, will create three unique strategic verticals (viz. owning and operating resorts, third party resorts under management and other leisure related services),” the statement said.


The Citrus board was of the view that this proposed strategic initiative will achieve higher levels of fiscal and management efficiency within the verticals by optimising and unlocking the collective strengths and synergies within the Group, the statement added. “This would in turn lead to economies of scale, better risk management, cost effective administration and prudent tax management, which would ultimately be accrued to the benefit of all shareholders. In addition to operational efficiencies, it is believed that the consolidated entity is in a better position to pursue more growth opportunities and the strengthened financial position enhancing fund raising capabilities both via equity and debt through strategic partners and financial institutions.”


The board was also of the view that the proposed restructuring exercise would enhance the shareholder value at all levels in the future compared to the constraints of stand-alone resort properties as at present. The consolidation will also mitigate the risk associated with a single leisure sector property and enable them to benefit from operational efficiencies of a portfolio of resort properties and partner an entity with better growth prospects. The strategic restructuring at this juncture confirms Citrus Groups confidence and commitment in the future prospects of the industry and its intent to be a force in the tourism sector, the Citrus statement said.

2 Re: Citrus Group restructuring on Sat Oct 15, 2016 2:24 pm

troy

avatar
Moderator
Pls grow up!

3 Re: Citrus Group restructuring on Sat Oct 15, 2016 3:10 pm

PrasannaMani

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Read and understand.I shared what Citrus said..
Be professional and  grow up.


Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing Laughing

4 GIVE A CHANCE TO KIDS TO GROW on Sat Oct 15, 2016 7:21 pm

ruwan326

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@troy wrote:Pls grow up!
Come on Troy Very Happy Very Happy Very Happy Very Happy

Do not be so hard on the new comers........... Embarassed Embarassed Embarassed Embarassed Embarassed Embarassed

5 Re: Citrus Group restructuring on Sat Oct 15, 2016 8:10 pm

PrasannaMani

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Sorry old fellows 
Laughing Laughing Laughing Laughing Laughing

6 Re: Citrus Group restructuring on Sat Oct 15, 2016 8:32 pm

ruwan326

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@PrasannaMani wrote:Sorry old fellows 
Laughing Laughing Laughing Laughing Laughing

Well I join last month Very Happy Very Happy Very Happy Very Happy Very Happy

Not that old mate Mad Mad Mad Mad

Are you really live in LONDON?????

If yes can you send??????
https://www.youtube.com/watch?v=Iwivnl8FwZA

lol! lol! lol! lol!

7 Re: Citrus Group restructuring on Sat Oct 15, 2016 8:38 pm

PrasannaMani

avatar
Manager - Equity Analytics
Manager - Equity Analytics
Razz Razz Razz Razz Razz  I thought .that old...
Sorry mate

8 Re: Citrus Group restructuring on Sun Oct 16, 2016 1:25 pm

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@ prassannaMani,

you are publishing almost rotten news. Both COCR and Citrus affairs were discussed more than enough in this forum for past few weeks.
Hence its better if you can scan topics before you start new threads.

9 Re: Citrus Group restructuring on Sun Oct 16, 2016 5:44 pm

ruwan326

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Chinwi wrote:@ prassannaMani,

you are publishing almost rotten news. Both COCR and Citrus affairs were discussed more than enough in this forum for past few weeks.
Hence its better if you can scan topics before you start new threads.
GHLL

https://cdn.cse.lk/cmt/uploadAnnounceFiles/8561320060991_541.pdf

Compare to Gainers 2011 post, this is recent.......... very recent Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy

10 Re: Citrus Group restructuring on Mon Oct 17, 2016 8:00 am

sheildskye

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Manager - Equity Analytics
Manager - Equity Analytics
Citrus leisure is really strong

11 Re: Citrus Group restructuring on Mon Oct 17, 2016 8:31 pm

PrasannaMani

avatar
Manager - Equity Analytics
Manager - Equity Analytics
AGM approval????????

12 Re: Citrus Group restructuring on Tue Oct 18, 2016 7:35 am

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
citk onna 4.3 watina.godak stuck wela athi

13 Re: Citrus Group restructuring on Thu Oct 20, 2016 2:00 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Each day some body is trying to bring down CITK,CITW by .10. Expert please advice, is it for a collection? what will happen to these shares? Thanks

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