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Poll: CFA

Government takes policy decision to abrogate CFA.

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Home : General : Ceylinco seeks approval to lend to employees’ share trust

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Ceylinco seeks approval to lend to employees’ share trust

editor on 12 October, 2008 14:34:32 | 556 times read

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Ceylinco Insurance PLC will at an extraordinary general meeting to be held on October 22 seek shareholder approval to grant a loan up to a maximum of Rs.100 million or a lesser sum to CIESOT (Pvt) Limited (Ceylinco Insurance Employees Share Ownership Trust) in the event that CIESOT request such a loan to purchase Ceylinco Insurance shares.

This is one of three resolutions to be considered at the EGM where shareholder approval is also being sought to pay an interim dividend of Re.1/= per share for the financial year ending December 31, 2008.

A second resolution to amend the Articles of Association of the company, enabling the directors to decide to propose interim dividends (if any) in the future without calling a shareholders meeting, is also down for consideration at the EGM.