Watawala Plantations announces subdivision of shares

The Board of Directors proposes a share sub-division of one into ten of the issued shares of Watawala Plantations PLC (WATA) - other than the golden share. The proposed sub-division is expected to facilitate greater liquidity of WATA shares in the market and broaden the shareholder base further by widening the potential pool of investors likely to trade in the share.

The enhanced liquidity is expected to have a positive impact on the share’s valuations. The company intends to hold an EGM shortly to ratify the sub-division, subject to obtaining approval from the CSE.