The Board of Directors of Colombo City Holdings PLC by resolution passed on January 28, 2019 decided to acquire the entirety of the shares held by Ambeon Capital PLC and Taprobane Investments (Private) Limited in Lexinton Holdings (Private) Limited (LEXH).
This decision was made by the Board of Directors in accordance with the Group’s restructuring proposal to restructure the ownership and operational structures of its businesses with a view to streamlining the structure of the Ambeon Group and thereby maximizing value and returns to the shareholders.
Ambeon Capital PLC held 49,616,300 ordinary shares and in LEXH amounting to 72% of the issued shares of LEXH and Taprobane Investments (Private) Limited held 19,295,228 ordinary shares in LEXH amounting to 28% of the issued shares of LEXH. The total consideration paid by the Company to Ambeon Capital PLC and Taprobane Investments (Private) Limited for the transfer of these shares is Rs 414,833,710. The said transaction was completed on January 28,2019.
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