Vidullanka PLC (VLL) today announced that its board resolved on 13th July to issue new ordinary shares by way of capitalization of reserves. Accordingly, new shares will be issued at a proportion of 1 for every 2 shares held for a consideration of 1/- thereby capitalizing Rs. 238,634,597/- of reserves.
VLL was the top gainer for the day as a result, moving up 10.7% to close at 10.40/- after peaking at 11/- with more than a million shares trading hands.
