Sampath does away with alternate directors

Tuesday, 6 October 2015 00:01 - - {{hitsCtrl.values.hits}}

Based on certain good governance measures, the Board of Directors of Sampath Bank PLC has decided to do away with alternate directors.

The company in a stock market disclosure said: “In terms of Section 8 on Corporate Disclosure of the Listing Rules of the Colombo Stock Exchange (CSE), we wish to inform you that at the meeting of directors held on 30 September it was decided that all appointments of directors as alternate directors are cancelled and cease to be in effect.”

Alternate Directors at the time were Kulatilleke Arthanayake Malik Kumar Ranasinghe (Alternate Director to D. Sooryaarachchi), Deepal Sooriyaarachchi (Alternate Director to Prof. K.A.M. Ranasinghe), Sanjiva Kanishka Gamini Senanayake (Alternate Director to W.D.P. de Mel) and Saumya Amarasekera (Alternate Director to Channa Palansuriya).

Sampath Bank to raise Rs. 7 b via debentures

The Board of Directors of Sampath Bank PLC has decided to raise Rs. 7 billion through a listed debenture issue.

The bank informed the Colombo Stock Exchange (CSE) that it has decided to issue 50 million debentures with an option to issue up a further 20 million debentures in the event of an oversubscription at a par value of Rs .100 subject to the necessary regulatory approval.