Four Musketeers

A deal finalised on Wednesday will transfer Rohan Pereras 54 percent holding in Pramuka Merchant to a four-man consortium.
The paperwork is being processed, say the new shareholders, who plan to hold an emergency meeting in early February.rn

rnSources estimate that the consortium put in over Rs. 5 million for the stake and expect a name change with the emergency meeting.rn

rnShareholders say the Registrar of Companies had approved a name change, but a decision on the issue was reserved for the emergency meeting.rn

rnThe new shareholders say other investors are also keen to stake their claim in the firm, and could be brought in after the formal takeover.rn

rnMeanwhile, the new shareholders are hoping to convince the remaining shareholders and depositors to bear with the new board and ask for time to restructure the merchant bank.rn

rnThe new shareholders say some panic withdrawals were made soon after Central Bank shut down Pramuka Savings & Development Bank, but since had settled down.rn