Notes to the Consolidated Financial Statements - Seylan Bank

332 North Bound > Seylan Bank Annual Report 2011
Notes to the Consolidated Financial Statements
BANK
GROUP
2011 2010 2011 2010
Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000
38. Stated Capital
Ordinary Shares - Voting (Note 38.1) 6,711,000 3,461,000 6,711,000 3,461,000
Ordinary Shares - Non-Voting (Note 38.2) 2,677,133 1,235,600 2,677,133 1,235,600
Preference Shares - Redeemable,
Non-Cumulative, Non-Convertible and
Non-Voting (Note 38.3) 33,901 33,901 33,901 33,901
Share Premium (Note 38.4) 837,319 837,319 837,319 837,319
10,259,353 5,567,820 10,259,353 5,567,820
38.1 Ordinary Shares - Voting
Balance as at January 3,461,000 3,461,000 3,461,000 3,461,000
Issued during the Year -
43,333,333 Ordinary Shares of Rs. 75/- each 3,250,000 – 3,250,000 -
173,333,333 Ordinary Shares - Voting
(43,560,000 shares of Rs. 10/- each,
86,440,000 shares of Rs. 35/- each and
43,333,333 shares of 75/- each) 6,711,000 3,461,000 6,711,000 3,461,000
38.2 Ordinary Shares - Non-Voting
Balance as at January 1,235,600 1,235,600 1,235,600 1,235,600
Issued during the Year -
41,186,666 Ordinary Shares of Rs. 35/- each 1,441,533 – 1,441,533 –
164,746,666 Ordinary Shares - Non-Voting
(123,560,000 shares of Rs. 10/- each and
41,186,666 shares of Rs. 35/- each) 2,677,133 1,235,600 2,677,133 1,235,600
38.3 Preference Shares
Balance as at January -
3,390,100 Preference Shares of Rs. 10/- each 33,901 33,901 33,901 33,901
3,390,100 Preference Shares 33,901 33,901 33,901 33,901
38.4 Movement in Share Premium
Balance as at 01st January 837,319 837,319 837,319 837,319
Balance as at 31st December 837,319 837,319 837,319 837,319
The Seylan Bank PLC made a Rights Issue (Ordinary Voting and Non-Voting Shares) in June 2011 and a sum
of Rs. 4,691,533,285 was raised.
Board of Directors has decided to redeem the entirety of 3,390,100 number of Preference Shares at
Rs. 12.50 per share on 13.02.2012.