Dankotuwa Porcelain PLC (the Company) invested Rs. 71,699,860 in Royal Fernwood Porcelain Limited (RFPL) by converting the liability generated from the loans granted to RFPL for working capital requirements into equity.
Accordingly, 71,699,860 fully paid Non-Voting Redeemable Non-Cumulative Preference Shares of Rs. 1 per share were issued on March 30, 2018.
The said preference shares will be redeemed at the discretion of the issuer.
Mangala Boyagoda who is a Director of Dankotuwa Porcelain PLC, is also a Director of Royal Fernwood Porcelain Limited.
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