Lee Hedges PLC appointed Hisham Jamaldeen and Archie Warman as Non-Independent Executive Directors. Both have 20+ years in corporate finance and real estate and hold directorships at On'ally Holdings and Lanka Realty Investments; Jamaldeen has also served at Hayleys PLC.
Senthilverl Holdings increased its stake in Lee Hedges PLC to 10.10% (2,584,777 shares) after buying 103,480 shares on 19 Jan at Rs.247.75–255. Lanka Realty Investments, acting with Eighth Wonder, has made a mandatory offer for 28.9% at Rs.216 and combined holdings now total 71.1%.
Colombo bourse closed the week up 3.45% as the ASPI rose 0.54% yesterday to 23,654.30, with the market gaining about Rs. 264.8 billion in value for the week and daily turnover over Rs. 8.5 billion; top contributors included JKH, COMB, VONE, CARS and NTB.
Lanka Realty Investments PLC (ASCO) announced it has acquired a controlling stake in Lee Hedges PLC (SHAW) in a Rs. 4 billion transaction, adding Lee Hedges' ~Rs. 1.76bn in cash and boosting LRI's recurring income and balance-sheet strength.
Colombo Stock Exchange resumed trading on Jan 8 with turnover of Rs. 12.32 billion, led by a Rs. 3.93 billion crossing in Lee Hedges (SHAW.N0000). Wealth Trust Securities began secondary trading generating Rs. 1.16 billion and the ASPI rose 233.28 pts to 23,527.13.
Lanka Realty Investments (ASCO.N0000) acquired a 51% stake in Lee Hedges (SHAW.N0000), buying 13,057,595 shares at Rs216 each. Lanka Realty closed down Rs1 at 46.10 and Lee Hedges closed up Rs23 at 254.
Lee Hedges PLC (SHAW.N0000) appointed Ananda Rajiv Walpita as an Independent Non-Executive Director. Walpita is an Associate Member of the Institute of Chartered Accountants of Sri Lanka and CIMA (UK), a Registered Company Secretary with over 35 years' experience.
The Colombo Stock Exchange closed marginally up as the ASPI gained 0.03% (7.45 pts) to 22,791.07 on turnover of Rs.6.61bn; DOCK, SAMP, CFIN, HARI and HUNT were among top contributors while foreigners were net sellers of Rs.235.1m.