Expolanka exit offer opens today

The exit offer for Expolanka opens today and will be on for 12 market days, ending on 3 June 4.30 p.m. 
In a filing to the Colombo Stock Exchange (CSE) this week, Expolanka announced the dispatch of the exit offer document, setting the exit offer made by SG Holdings Global Pte Ltd., to the rest of the company’s shareholders at Rs. 185 per share. 
The offer is open to 343,382,374 issued and fully paid ordinary (voting) shares held by the entitled shareholders and registered in the books of Expolanka Holdings PLC, excluding the shares held by SG Holdings Global Pte Ltd.

Payments will be dispatched on or before 10 June in for forms and acceptance of transfers received on or before 21 May. Whereas, payments for forms and acceptance of transfers received on or before 3 June will be dispatched before 20 June.
The exit offer price reflects Rs. 51.30 (38.4 percent) premium to the Volume Weighted Average Price over the last 3 months period ending 31st December 2023; and Rs. 45.20 (32.3 percent) premium to Volume Weighted Average Price over the last 6 months period ending 31st December 2023; and Rs.32.40 (21.2 percent) premium to Volume Weighted Average Price over the last 12 months period ending 31st December 2023. 

The offer also reflects a Rs. 118.96 (180.1 percent) premium to the Net Asset Value of the company as of 31st December 2023. It also reflects a Rs. 58.80 (46.6 percent) premium to the lower of the fair price range and a Rs. 34.60 (23.0 percent) premium to the higher of the fair price range determined by the DCF Methodology determined by the independent valuation carried out by KPMG. 
The independent valuation that has been carried out indicates the valuation range for the business and that the exit offer price is in excess of the highest price in this range.