By Paneetha Ameresekere
Ceylon Finance Today: CHC Investments (Pvt.) Ltd. (CHCL) and connected parties will see their holdings in 'controversial' Taprobane Holdings plc (TAP) increase by 77.06% (242.29 million shares) to 556.7 million shares, constituting 55.52% of TAP's ordinary shares, on a mandatory offer made to buy all of its shares on 15 September, 2015; CHCI's secretaries informed the Colombo Stock Exchange (CSE).
During the era of the previous regime, one of Taprobane's former directors Dinal Wijemanne was allegedly involved in the sale of The Finance Company, a struggling finance company, shares, apparently at an exorbitant price. It was bought by State owned NSB, which bank's chairman then was Pradeep Kariyawasam, husband of the sitting Chief Justice at that time, Shirani Bandaranayake. The deal was subsequently reversed due to public protests.
Ceylon Finance Today: CHC Investments (Pvt.) Ltd. (CHCL) and connected parties will see their holdings in 'controversial' Taprobane Holdings plc (TAP) increase by 77.06% (242.29 million shares) to 556.7 million shares, constituting 55.52% of TAP's ordinary shares, on a mandatory offer made to buy all of its shares on 15 September, 2015; CHCI's secretaries informed the Colombo Stock Exchange (CSE).
The mandatory offer closed on Monday (12 October). CHCI with parties acting in concert held 314.41 million shares of TAP prior to the mandatory offer. TAP's shares closed unchanged at Rs 5.50 a share at the end of Tuesday's trading.
During the era of the previous regime, one of Taprobane's former directors Dinal Wijemanne was allegedly involved in the sale of The Finance Company, a struggling finance company, shares, apparently at an exorbitant price. It was bought by State owned NSB, which bank's chairman then was Pradeep Kariyawasam, husband of the sitting Chief Justice at that time, Shirani Bandaranayake. The deal was subsequently reversed due to public protests.
www.ceylontodat.lk
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