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Sri Lanka Equity Forum » Stock Market Talk » CITH AMALGAMATION....

CITH AMALGAMATION....

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1 CITH AMALGAMATION.... on Fri Jul 21, 2017 1:52 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Why they have suspended only CITK share trading where as there are 4 companies ( REEF, CITW, CITH, CITK)involved with this Amalgamation process. Any reason?

2 Re: CITH AMALGAMATION.... on Fri Jul 21, 2017 11:22 pm

dsam

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
PLs. someone answer this.

3 Re: CITH AMALGAMATION.... on Mon Jul 24, 2017 12:42 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dear experts please tell me normally a restructuring proses how long will it take?  Trading halt for CITK has been taken 3 weeks now. Is there any one have a clue,when it will be lifted?

4 Re: CITH AMALGAMATION.... on Wed Jul 26, 2017 10:25 am

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Today I spoke to the Group Accountant of Citrus Plc,  and asked him about the CITK  trading halt, he told me that Kalpitiya beach resort share was suspended Bcoz, after the amalgamation this share will become  as CITH direct after the amalgamation proses, but the other two companies (CITW, REEF) which are involved with the amalgamation will come under CITH group. those companies will act independently.  and also he told me it will take one more month, so the CITK Trading halt will be lifted end of August. This is for you dsam.

5 Re: CITH AMALGAMATION.... on Wed Jul 26, 2017 11:52 am

niru


Manager - Equity Analytics
Manager - Equity Analytics
@Eugine Fernando wrote:Today I spoke to the Group Accountant of Citrus Plc,  and asked him about the CITK  trading halt, he told me that Kalpitiya beach resort share was suspended Bcoz, after the amalgamation this share will become  as CITH direct after the amalgamation proses, but the other two companies (CITW, REEF) which are involved with the amalgamation will come under CITH group. those companies will act independently.  and also he told me it will take one more month, so the CITK Trading halt will be lifted end of August. This is for you dsam.

Then why Citrus Waskaduwa (CITW.N0000) is not suspended yet? Which should also to be converted to Citrus Hikkaduwa (CITH.N0000)

6 Re: CITH AMALGAMATION.... on Wed Jul 26, 2017 12:22 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@niru wrote:
@Eugine Fernando wrote:Today I spoke to the Group Accountant of Citrus Plc,  and asked him about the CITK  trading halt, he told me that Kalpitiya beach resort share was suspended Bcoz, after the amalgamation this share will become  as CITH direct after the amalgamation proses, but the other two companies (CITW, REEF) which are involved with the amalgamation will come under CITH group. those companies will act independently.  and also he told me it will take one more month, so the CITK Trading halt will be lifted end of August. This is for you dsam.

Then why Citrus Waskaduwa (CITW.N0000) is not suspended yet? Which should also to be converted to Citrus Hikkaduwa (CITH.N0000)
I asked this question then What the Accountant told was the CITK will merge with CITH direct., but CITW will function as a independent entity, in that group.

7 Re: CITH AMALGAMATION.... on Wed Jul 26, 2017 1:38 pm

dsam

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Eugine Fernando wrote:Today I spoke to the Group Accountant of Citrus Plc,  and asked him about the CITK  trading halt, he told me that Kalpitiya beach resort share was suspended Bcoz, after the amalgamation this share will become  as CITH direct after the amalgamation proses, but the other two companies (CITW, REEF) which are involved with the amalgamation will come under CITH group. those companies will act independently.  and also he told me it will take one more month, so the CITK Trading halt will be lifted end of August. This is for you dsam.

Thank you sir

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