People’s Leasing and Finance PLC (PLC) and People’s Finance PLC (PF) had resolved to amalgamate as People’s Leasing and Finance PLC following a directorial decision stated a recent disclosure filed to the Colombo Stock Exchange (CSE) by PLC.
The amalgamation will be effective from 1 April 2013 and trading shares of PF will be suspended immediately after the date of the special resolution, until PF is amalgamated with PLC, the statement also noted.
Further, an ‘Extraordinary’ General Meeting of shareholders of the Company, to pass the special resolution to the shareholders in relation to the aforementioned amalgamation is expected to be held on 20 March 2013. Founded in 1995, People’s Leasing and Finance PLC is a fully owned subsidiary of the People’s Bank and People’s Finance is a subsidiary of PLC, Licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No 42 of 2011. (CK)