Business tycoon Harry Jayawardena’s offer to Sonia Weiman, daughter of the late V.P.Vittachi to buy her 20% stake (each) in Stassen Exports and Milford has been turned down, according to informed sources. She inherited this stake after her father’s death.
“Mrs. Weiman has said she will not sell her shareholding if the other two (main) shareholders - R.K. Obeysekere and Zaki Alif -will not sell along with her,” one source told The Sunday Times FT. Ms. Weiman was not available for comment.
Last June the three directors who had wanted to buy Mr. Jayawardena out or exit by selling their stock to him and arrive at a final settlement filed action against Mr. Jayawardena, Managing Director of Stassens, saying they have lost confidence in him and wanted to exit the company or buy out his shares. They also asked for an interim order preventing the company and or Mr. Jayawardena taking any steps whatsoever to alter the present status quo of the Board of Directors of the company until the final hearing and determination of this action. In Stassen's, they collectively hold 49.99 %, while at Milford their stock amounts to 40 %.
Dr. Vittachi died on September 10, 2008 and the respondent (Jayawardena) took up a preliminary objection in regard to the maintenance of the application in view of the former’s death. The case is proceeding. |
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