After sellout, SLIC nominees quit eChannelling Board

Thursday, 27 September 2012 04:31 - - {{hitsCtrl.values.hits}}

Two nominees of Sri Lanka Insurance Corporation have resigned from the Board of eChannelling Plc. following the sellout of an original 25% stake in the company.

The nominees were P. Kudabalage who was Chairman and Mohan De Alwis have resigned with effect from 28 September.

SLIC as at 31 March 2012 held 25% stake in eChanneling Plc. Kudabalage serves as an Executive Director at SLIC whilst Alwis is the CEO.

Since then SLIC had been shedding its stake, part of which were acquired by Capital Trust Holdings (10%) and J.B. Cocoshell which owns nearly 10% up from 1.8% as at March 2012. The single largest shareholder of eChannelling Plc is British American Technologies Ltd., holding 28%.

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