The Dankotuwa Porcelain Plc (DPL) Board of Directors has resolved to amalgamate with its wholly owned subsidiary Taprobane Capital Ltd with the former being the surviving entity.
In a filing to the Colombo Stock Exchange, DPL said management of both companies is of the opinion that it would be administratively and financially beneficial to amalgamate and to operate as one company.
The DPL Board is satisfied that the amalgamated company DPL will satisfy solvency test immediately upon the proposed move becoming effective.
The amalgamation will be effective on 31 May 2016 or on such other date as may be determined by the Registrar General of Companies.
The Board of Directors of the Amalgamated company will comprise of Rajan Asirwatham, A.G. Weerasinghe, Mangala Boyagoda, Sanjeev Gardiner, Priyantha Maddumage, Sarinda Unamboowe, Revantha Devasurendra and Murali Prakash.
Ceylon Century Investments Plc holds 58.36% stake in DPL and related party Ceylon Leather Products Plc holds 8.3%.
www.ft.lk
In a filing to the Colombo Stock Exchange, DPL said management of both companies is of the opinion that it would be administratively and financially beneficial to amalgamate and to operate as one company.
The DPL Board is satisfied that the amalgamated company DPL will satisfy solvency test immediately upon the proposed move becoming effective.
The amalgamation will be effective on 31 May 2016 or on such other date as may be determined by the Registrar General of Companies.
The Board of Directors of the Amalgamated company will comprise of Rajan Asirwatham, A.G. Weerasinghe, Mangala Boyagoda, Sanjeev Gardiner, Priyantha Maddumage, Sarinda Unamboowe, Revantha Devasurendra and Murali Prakash.
Ceylon Century Investments Plc holds 58.36% stake in DPL and related party Ceylon Leather Products Plc holds 8.3%.
www.ft.lk
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