Wednesday Mar 25, 2026
Wednesday Mar 25, 2026
Wednesday, 25 March 2026 00:03 - - {{hitsCtrl.values.hits}}
Asia Capital PLC has completed a series of transactions involving the acquisition and transfer of shares in River House Ltd., to settle an outstanding liability of Rs. 790.75 million.
The company stated that it acquired all shares in River House Ltd., held by Asia Leisure Holdings Ltd., as part settlement of a debt due to it. These shares were subsequently transferred to the nominee of CC Trust Ltd., in full settlement of the outstanding amount payable by Asia Capital to CC Trust.
The transaction follows a settlement agreement announced on 2 February 2026, under which the company agreed, upon acquiring 9,000,001 shares in River House Ltd., to transfer the entirety of such shares to W S Trust Ltd., the nominee of CC Trust Ltd., in full and final settlement of a debt.
Separately, Asia Capital PLC also acquired 1,058,511 and 22,903,984 ordinary voting shares in Asia Leisure Holdings Ltd., from Tamao Watanabe and Aoba Pte Ltd., respectively on 19 March 2026.
The consideration for the shares amounted to Rs. 8,895,722 for the shares acquired from Watanabe and Rs. 192,604,278 for the shares acquired from Aoba Ltd.
Following the acquisition, Asia Capital PLC holds 91,250,933 ordinary voting shares in Asia Leisure Holdings Ltd., representing 99.98% of the total issued shares.
Asia Capital PLC has also entered into a Share Sale and Purchase Agreement to acquire a 22.13% stake in Wadduwa Resorts Ltd., for a total consideration of Rs. 75 million, the company said.
The shares are to be acquired from Japan Capital Ltd., with the transaction expected to be completed in September 2026.
Upon completion, Asia Capital together with its subsidiary, Asia Leisure Holdings Ltd., will hold 100% of the shares in Wadduwa Resorts Ltd.
