Business Times

CW Mackie will see new directors

The coming weeks will see four new directors at C.W. Mackie’s (CWM) being installed by its new owners Lankem Ceylon PLC while Tommy Ellawela will remain as its chairman for reasons of conformity, according to CWM sources.

“All the present directors - P.L. Pinto, R. Ranasinghe, (the Company Secretary), A. Jayaratne, A. Hingorani and Harsha Amarasekara will remain,” a Lankem source said. He said that CWM has provisions for 10 directors and Lankem will be putting in their nominees, numbering four into the board. “The company is well run, but the new changes will be done in a bid to represent the new ownership,” the Lankem source said.

The mandatory offer made by Lankem to the shareholders of CWM, which expired last Friday saw 0.052% of shareholders accepting the offer.

Aarhus United A/S, a Danish firm, which held a 30.09% stake in CWM and Ceylon Trading Company, a locally incorporated firm which held further 26.47% stake through 9.56 million shares, sold out to LCP in an Rs 712 million deal in January.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
 
Other Business Times Articles
Lanka’s ceramics could lose European market if GSP is withdrawn
14 months gone, AG yet to file indictment in Ceylinco cases
Jaffna’s first share issue thro’ new hotel
CB says state institutions not acting in concert
NDB vacant director positions yet to be filled
More fireworks from Chillies
Hemaka steps down as Singer CEO
Smiles from Jaffna’s young but are they happy?
Comment - Urgent need to consult the north
Feature - SL dumps 40,000 tonnes of recyclable hazardous waste
Feature - Should the fairer sex be the rarer sex?
Colombo Port project agreement still to be finalized
Sri Lanka: Fast-tracking development to fast-tracking prosperity
Aviation organizations launch safety information exchange
CID raids on software piracy in the private sector
Inflation down in March
GAP Report: Inaction on corruption in Sri Lanka
Bogawantalawa Tea in JV for iced tea export
Fitch assigns 'A-(lka)' to People's Leasing Company's over debt issue
3.5% GDP Growth in 2009
CW Mackie will see new directors
Appreciating good work? Just a simple ‘Thank you’, would do!
Tax Dept. has enough money from Treasury to pay VAT refunds
International trade and invest meet next month
Fingara management handed over to two committees
Exports must increase to match imports-PBJ
New brokers, fresh transaction costs at CSE
Swarnamahal Financial Services Ltd debenture oversubscribed
Maldives signs US$13.7 mln credit agreement with World Bank
National Equity Fund (NEF) declares Rs 2.50 dividend
Discussion with Dr Harsha de Silva
Vallibel Finance IPO oversubscribed on first day
US lawyer convicted in absentia in Blue Diamond case
People’s Bank: Highest contributor to government coffers
Skills development series helps Jaffna
Kelegama on CSE Board
Sri Lanka Tourism gets major publicity from National Geographic website
Feature - Corporate culture – the unseen factor
BOC profits down
SEC goes to court against Asia Capital
Sinhala, Tamil language website addresses soon
Private sector can bridge gaps in education, health, nutrition
SL budget deficit mostly due to interest bill - IMF Rep

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution