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http://www.csestockwatch.blogspot.com/2012/09/citrus-leisure-reef-valible-one-vone_6.html
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A closer look on share holdings of certain group of individuals in CSE will give a clear idea of their closer relationships and connections with related parties. ‘CSE StockWatch’ only highlights available facts. It is up to readers to come up with their own conclusions.
Mr. Dilith Jayaweera owns the Divasa Equity (pvt) Ltd, the major shareholder of Citrus leisure PLC (REEF). He is the husband of Mrs. Varuni Amunugama, the daughter of Minister Sarath Amunugama. In addition to REEF, Dilith owns major shares in Colombo Land Development PLC (CLND) through Citrus Kalpitiya (CITK), a subsidiary of REEF. The current SEC chairman Dr. Nalaka Godahewa holds the Chairman post of CLND. He recently resigned from the chairman post of Divasa Equity before sitting on the SEC top seat.
Mr. Dhammika Perera, the chairman of Sampath Bank PLC, the deputy chairman of Heyles PLC and the secretary to the transport ministry, is the major shareholder of Vallible One PLC (VONE). He controls nearly 80% of VONE shares. VONE is the third largest shareholder of REEF.
Citrus Leisure PLC, former known as Reefcomber PLC, was initially owned by Dhammika Perera before disposing his holding to the market during mid-2010. When it was acquired by Emagewise (pvt) Ltd, the advertising arm of Dilith Jayaweera, Dhammika owned 50.14% of REEF shares through Amaya Leisure PLC.
At the moment, VONE keeps 7.14% shares of REEF and 20.19% of CITW. In addition to that Royal Ceramic PLC, a subsidiary of VONE, holds 4.27% of REEF and 0.9% of CITW.
Mr. Nimal Perera, the chairman of Pan Asia Bank PLC, the Managing Director of VONE and the fund manager of Mr. Dhammika Perera holds different shares of REEF group through his own accounts margin accounts. His holdings in REEF group spread to 4.67% of REEF, 13.81% of REEF.W19 3.74% of CITK and 2.73% of CITW.
Mr. Tharanga Thoradeniya, another key executive in Dhammika’s companies, holds 0.72%, 6.76%, 0.93% and 1.61% of shares of REEF, REEF.W19, CITK and CITW respectively.
Dr. Nalalaka Godahewa, the SEC Chairman, also holds 1.02% of CITW and 1.15% CLND through margin accounts.
As exhibits in the above table, although they gave up the hotel, in mid-2010, it seems that Mr Dhammika Perera and related parties still have an immense interest on this hotel. All those figures are based on latest financial reports released by June 2012.
‘CSE StockWatch’ strongly believes that the VONE’s position in REEF is more biased for trading investment than a long term strategic investment. The most important factor is, including the SEC chairman, many are holding aforementioned shares through margin accounts. So, shares prices cannot be stagnated for long time. The stage has already been set to the drama. Who is going to ring the bell?
http://www.csestockwatch.blogspot.com/2012/09/citrus-leisure-reef-valible-one-vone_6.html
--------------------------------------------------------------------
A closer look on share holdings of certain group of individuals in CSE will give a clear idea of their closer relationships and connections with related parties. ‘CSE StockWatch’ only highlights available facts. It is up to readers to come up with their own conclusions.
Mr. Dilith Jayaweera owns the Divasa Equity (pvt) Ltd, the major shareholder of Citrus leisure PLC (REEF). He is the husband of Mrs. Varuni Amunugama, the daughter of Minister Sarath Amunugama. In addition to REEF, Dilith owns major shares in Colombo Land Development PLC (CLND) through Citrus Kalpitiya (CITK), a subsidiary of REEF. The current SEC chairman Dr. Nalaka Godahewa holds the Chairman post of CLND. He recently resigned from the chairman post of Divasa Equity before sitting on the SEC top seat.
Mr. Dhammika Perera, the chairman of Sampath Bank PLC, the deputy chairman of Heyles PLC and the secretary to the transport ministry, is the major shareholder of Vallible One PLC (VONE). He controls nearly 80% of VONE shares. VONE is the third largest shareholder of REEF.
Citrus Leisure PLC, former known as Reefcomber PLC, was initially owned by Dhammika Perera before disposing his holding to the market during mid-2010. When it was acquired by Emagewise (pvt) Ltd, the advertising arm of Dilith Jayaweera, Dhammika owned 50.14% of REEF shares through Amaya Leisure PLC.
At the moment, VONE keeps 7.14% shares of REEF and 20.19% of CITW. In addition to that Royal Ceramic PLC, a subsidiary of VONE, holds 4.27% of REEF and 0.9% of CITW.
Mr. Nimal Perera, the chairman of Pan Asia Bank PLC, the Managing Director of VONE and the fund manager of Mr. Dhammika Perera holds different shares of REEF group through his own accounts margin accounts. His holdings in REEF group spread to 4.67% of REEF, 13.81% of REEF.W19 3.74% of CITK and 2.73% of CITW.
Mr. Tharanga Thoradeniya, another key executive in Dhammika’s companies, holds 0.72%, 6.76%, 0.93% and 1.61% of shares of REEF, REEF.W19, CITK and CITW respectively.
Dr. Nalalaka Godahewa, the SEC Chairman, also holds 1.02% of CITW and 1.15% CLND through margin accounts.
As exhibits in the above table, although they gave up the hotel, in mid-2010, it seems that Mr Dhammika Perera and related parties still have an immense interest on this hotel. All those figures are based on latest financial reports released by June 2012.
‘CSE StockWatch’ strongly believes that the VONE’s position in REEF is more biased for trading investment than a long term strategic investment. The most important factor is, including the SEC chairman, many are holding aforementioned shares through margin accounts. So, shares prices cannot be stagnated for long time. The stage has already been set to the drama. Who is going to ring the bell?
