New directors appointed to Lanka Aluminium, Acme

Monday, 22 August 2011 00:52 -     - {{hitsCtrl.values.hits}}

Several new directors have been appointed to the Boards of Lanka Aluminium Plc (LALU) and Acme Printing and Packaging Plc (Acme) by controlling shareholder foreign firm Colvis Company.

The new appointees at Lanka Aluminium are Paras Chandaria, Singer Chairman Hemaka Amarasuriya, James Finlay Chairman and Managing Director Kumar Jayasuriya and HR/management specialist Dinesh Weerakkody.

The same persons have also been appointed to the Board of Acme in addition to R. Seevaratnam and J.M. Swaminathan. The latter’s appointment is subject to shareholder approval, given his age being above 70 years.

The appointments follow the resignations of J.S. Mather who will not stand for re-election at the upcoming Annual General Meeting, Franklyn Amerasinghe, V.R. Chandaria from LALU and R.D. Chandaria from Acme.

Colvis Company owns a 50.9% stake in Lanka Aluminium whilst Dhammika Perera owns a 29% stake. In Acme, Colvis owns a 43% stake and Lanka Aluminium owns 7% whilst National Equity Fund owns a 7.8% stake and Namal Acuity Value Fund owns a near 6% stake.

LALU Chairman is S.T. Nagendra whilst the Managing Director is Dinal Peiris, who is the Chairman of Acme.