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JKH Rights and Bonus Issue

In keeping with the Company's new vision of "Building businesses that are leaders in the region" and given its desire to exploit the many opportunities that currently exist in Sri Lanka, India and the region, the Board of Directors of John Keells Holdings Limited (JKH) has resolved that, subject to shareholder approval and approval of the Colombo Stock Exchange,:-

a) A Rights Issue of one Ordinary Share of Rs. 10 each be offered, for every five Ordinary Shares of Rs. 10 at a price of Rs. 140 per share (inclusive of a premium of Rs. 130 per share.)

b) Subject to the completion of the Rights Issue, a Bonus Issue of one Ordinary Share for every seven Ordinary Shares be made, on the enhanced capital.

The Rights issue will raise approximately Rs. 12.9 billion for the Company. The issued capital of JKH following the Rights Issue and Bonus Issue will be approximately 631 million shares.

The Company recently made substantial investments, including the acquisition of two hotel properties in the Maldives, the construction of a new hotel in the Maldives, the construction of the second apartment complex - "The Emperor", the setting up of a BPO Company and the purchase of an additional stake in South Asia Gateway Terminals (Pvt) Limited.

The proceeds of the Rights Issue will strengthen the balance sheet and fund the Company's project pipeline.

 

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