Adam Investments

Adam Investments divest 31 % stake in PC Pharma despite mandato
Adam Investments Ltd yesterday
said it divested 31:4 million shares
of PC Pharma PLC amounting to
31 percent of the issued capital of
the company, at prices ranging from
Rs.2. 10 to Rs.2.90 per share.
interestingly, Adam Investments on
July 4 announced a mandatory offer
on PC Pharma at Rs. 1.70 per share,
after acquiring 5.5 million shares of
the company.
At the-time of the mandatory offer
announcement, Adam Investments’
interest in PC Pharma was 31 .4
percent.
Adam Investments was supposed
to forward a detailed mandatory offer
document to all shareholders of PC
Pharma on or before August 21, thirty
five days of incurring the obligation
to make the mandatory offer.
Adam Investments also announced
a mandatory offer on PCH Holdings
PLC on the same day.
Both PCH Holdings and PC
Pharma were earlier controlled by PC
House fame S.H.M. Rishan.
Both companies are currently
in the default board of Colombo
Stock Exchange for non submission
of March 2
accounts.
Adam mv
percent staki
company pr
Rishan.