But you could see another major share holder called S H Karunaratna holding 1.9Mn shares out of this 5.4Mn.
It is important to find out who are these Karunarathna’s.
Saman Karunarathna appointed as a director is actually working at Richard Pieris Securities (Pvt) Ltd & other 2 Karunaratnas are his relative.
Reaming shareholders also their business partners specially Japanese guys. Non of theses existing share holders have invested money in this company these are just book entries.
This a trap for poor investors where they try to dump this 5Mn shares by giving a impression that directors have looked in for shares. On the other hand there is no value in this company even to buy at IPO price of Rs11.
Be careful and find out the details.
Directors Name Share holding as at 22 May 2012 Locked in shares
Mr. Takashi Igarashi – Chairman 100,000 100,000
Mr. Sasanka Sigera – Managing Director 7,080,700 7,080,700
Mr. Ananda Karunarathne 7,080,700 7,080,700
Mr. Namal Gomes 50,000
Mr. Saman Karunarathna 200,000 200,000
Mr. Teruaki Onei 100,000 100,000