Monday Dec 01, 2025
Monday Dec 01, 2025
Monday, 1 December 2025 04:07 - - {{hitsCtrl.values.hits}}
Colombo Land & Development Company PLC has initiated the amalgamation of its fully owned subsidiary, Liberty Holdings Ltd., with the parent entity.
Both Boards approved the move on 25 November under Sections 239 and 242(1) of the Companies Act, No. 07 of 2007.
The company said Colombo Land will continue as the amalgamated entity once the process is completed.
Directors noted that folding Liberty Holdings into the parent company is in the best interests of both entities.
The amalgamation will take effect no earlier than 20 working days from the publication of the notice in the Government Gazette and newspapers. This timeline begins once both companies file the required documents with the Registrar General of Companies as mandated under the Act.
The company said further announcement will be issued via the Colombo Stock Exchange following the Registrar’s formal Certificate of Amalgamation.
Colombo Land shares ended Rs. 0.20 up yesterday at Rs. 49.10. As at end-September 2025, the company reported a net asset value per share of Rs. 42.53 on total assets of over Rs. 14.2 billion. Top shareholders were E. G. Ng (23.71%), Hikkaduwa Beach Resort PLC (20.22%), and the Urban Development Authority (17.45%). The public float was nearly 38.6%.
It owns through subsidiaries the iconic Liberty Plaza complex in Colpetty and People’s Park.
