📈 Beruwala Resorts Plans Rs. 398Mn Rights Issue for Refurbishment

Beruwala Resorts PLC has proposed a Rs. 398 million rights issue primarily to fund the overhaul of The Palms Beruwala hotel and support working capital. • Rights Issue Details: • Capital to raise: Rs. 398.04 million • Shares offered: 318,429,225 new ordinary shares • Ratio: 5 new shares for every 11 existing shares held • Issue Price: Rs. 1.25 per share (vs. market close price of Rs. 2.90) • Financial & Capital Structure: • Stated Capital: Rs. 120 million • Public Float: 29.83% • Major Shareholder: Colombo Fort Hotels Ltd holds a 66.25% controlling stake (as of end-March 2026) • Purpose & Next Steps: • Funds will directly revamp hospitality infrastructure at The Palms Beruwala and meet ongoing liquidity needs. • Implementation remains subject to Colombo Stock Exchange (CSE) listing approval and shareholder consent at an upcoming EGM.