Sri Lanka Melstacorp share trading commences from tomorrow

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Dec 29, 2016 (LBO) – Sri Lanka’s newly formed Melstacorp, the holding company of Distilleries, said its shares will commence trading on the Colombo Stock Exchange from tomorrow.

In a stock exchange filing, the company said these shares will be classified under the ‘Diversified Holdings’ sector.

A total of 1,165,397,072 ordinary voting shares are to be listed on the main board under the security code of MELS-N-0000 by way of an introduction.

Melstacorp limited further said deposits will be accepted by the CDS with immediate effect.

In September, shareholders of the Distilleries Company approved a special resolution to make Melstacorp the holding company of the group, in a reversal of the structure.

From 1st October Melstacorp became the holding company of Distilleries as well as Lanka Bell, Continental Insurance Lanka, Melsta Regal Finance, Balangoda Plantations and Browns Beach Hotels.

It also owned a significant percentage of shares in Aitken Spence and Madulsima Plantations.

Distilleries earlier announced that Harry Jayawardena is still the Chairman of both DCSL and Melstacorp while Amitha Gooneratne is the Managing Director of Melstacorp Ltd.