General
Sri Lanka’s Expolanka Holdings Plc changes director board
ECONOMYNEXT – Expolanka Holdings Plc has announced that Bokuto Yamauchi, in addition to his capacity as the Chairman of the Board, will assume duties as the Group CEO of the Company with effect from today.
“Hanif Yusoof will step down as Group CEO with effect from 31st March 2024 and will serve on the Board as an Executive Director,” the company said in a stock exchange filing.
The Board of Directors of Expolanka Holdings PLC has been re-constituted as follows;
Bokuto Yamauchi Chairman, Group CEO
Hanif Yusoof Executive Director
Harsha Amarasekera Independent Non-Executive Director
Sanjay Kulatunga Independent Non-Executive Director
Yo Ha Executive Director
Junji Shimasaki Non-Executive Non-Independent Director
Hidekazu Matsumoto Non-Executive Non-Independent Director
SG Holdings, the parent company of Expolanka Holdings Plc, announced on March 1 it was delisting the company from the Colombo Stock Exchange.
SG Holdings Global Pte Ltd, the company’s majority shareholder, said it will purchase its shares from shareholders at 185.00 rupees a share.
The share last traded around 150.50, before the delisting was announced. Expolanka is the largest listed company on the Colombo Stock Exchange.
A valuation report by KPMG on Expolanka Holdings Plc suggested the value of a share between 136.9 rupees and 152.6 rupees.
At the Extraordinary General Meeting held last week (March 27), a majority of stockholders voted to accept the offer.
“Since the Company shall be deemed to have changed its status from a public listed company to a public company upon the delisting of shares from the official list of the Colombo Stock Exchange the name of the Company shall be changed from ‘Expolanka Holdings PLC’ to ‘Expolanka Holdings Limited’ in accordance with the provisions of the Companies Act, No. 07 of 2007.”
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