R I L Property PLC, a developer, manager and owner of Grade A office spaces in Colombo, successfully concluded its first annual general meeting as a public limited liability company on July 7.
The company which went in for an initial public offering in May was oversubscribed within hours of opening its issue.
At the AGM, RIL updated the status of the utilization of IPO funds. RIL, the proud owner of PARKLAND, a Grade A office complex located in the heart of Colombo, achieved 100% occupancy recently and is focused on developing additional high quality office spaces within the Central Business District (CBD) of Colombo. As a first step, RIL has already commenced the refurbishment of the READYWEAR building adjacent to its flagship PARKLAND and is set to increase its Grade A office space supply.
In addition, the company also expects to expand the operations of BreadTalk, which is a global franchise operated locally by FoodbuzzPvt.Ltd., a fully owned subsidiary of R I L, by establishing more outlets and introducing innovative lifestyle bakery goods to the local market. R I L has also paid a final tax free dividend of LKR 0.10 per share for the year 2016/17.
0 comments: