Dhammika makes pitch for control of Hayleys
Mr. Dhammika Perera and companies he controls - Royal Ceramics, Vallibel One and LB Finance are seeking 50% control of Hayleys PLC according to a mandatory offer announcement made under the Companies Takeovers and Mergers Code.
Perera currently owns slightly over 34.4% of Hayleys while Royal Ceramics owns 5.04%, Vallibel One 1.52% and LB Finance 0.002% totaling 40.794%.
The mandatory offer is at Rs.380 per Hayleys share - the price at which Perera acquired nearly 6.9 million shares (9.2%) on the trading floor of the CSE on September 1 adding to a previously purchased 25.3% stake some months ago.
The present offer covers 44.4 million shares (59.2%) of the total number of shares in issue in Hayleys, the announcement said.
It says that "the offer shall be unconditional as to acceptance upon the offeror having received acceptances in respect of shares which will result in the offeror and parties acting in concert with the offeror holding shares carrying more than 50% of the voting rights."
Detailed mandatory offer document giving other relevant information including the period during which the offer
would be kept open will be sent to all Hayleys shareholders on or before October 6.
Perera is described in the announcement as "a well-known prominent entrepreneur and investor whose business interests include hydropower generation, manufacturing, hospitality, entertainment, banking and finance."
He serves as Chairman of Vallibel One PLC, L B Finance PLC, The Fortress Resorts PLC, Vallibel Power Erathna PLC, Vallibel Finance PLC and holds directorships in his other private sector companies.
He is the Deputy Chairman of Lewis Brown & Company (Pvt) Limited controlling Delmege Forsyth, Delmege Forsyth & Co. Ltd., Royal Ceramics Lanka PLC and Amaya Leisure PLC and Hayleys PLC.
He is also a Director of Sri Lanka Insurance Corporation Ltd, Sampath Bank PLC, Hayleys PLC, Haycarb PLC, Hayleys-MGT Knitting Mills PLC, Hotel Services (Ceylon) PLC which owns Ceylon Continental Hotel, Colombo, Hunas Falls Hotels PLC, Dipped Products PLC, Nirmalapura Wind Power (Pvt) Ltd and Alutec Anodising & Machine Tools (Pvt) Ltd.
He is the Secretary to the Ministry of Transport and is a member of the Board of Directors of Strategic Enterprise Management Agency (SEMA).
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