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The Citrus Group of Companies, the exciting, young and fast expanding Sri Lankan leisure brand announced an overall strategic restructuring plan of its group yesterday. The proposed strategic restructuring subject to relevant regulatory approvals, shareholder approvals and conditions, entails Hikkaduwa Beach Resort PLC (CITH) making a voluntary offer to shareholders of Waskaduwa Beach Resort PLC (CITW) and CITH amalgamating with Kalpitiya Beach Resort PLC (CITK) and Passikudah Beach Resort Ltd (PBR) at a premium price (to market) to shareholders.
Sep 27, 2016 (LBO) – Sri Lanka’s Citrus Leisure has proposed restructuring its group subject to the relevant regulatory approvals, the company said in a stock exchange filing.