21-Jun-2012 Change of Name - CDIC

http://www.cse.lk/cmt/upload_cse_announcements/8241340276148_.pdf

NDB Group yesterday (21) re-launched Capital Development and Investment Company PLC under a new corporate identity, NDB Capital Holdings PLC.

"The company, led by a team of capital market experts, will be a full service investment banking operation," the group said in a statement.

"The company has a complementary business portfolio consisting of fee based investment banking and corporate advisory services, wealth management, stock broking and fund based operations which includes private equity and strategic investments. These initiatives will be carried out through its subsidiaries NDB Investment Bank Limited (NDBIB), NDB Stockbrokers (Private) Limited (NDBS) and NDB Aviva Wealth Management Limited (NAWM). In addition, it is proposed that the investment by NDB in NDB Capital Limited that provides investment banking services in Bangladesh would also be absorbed by the Company in the future. The Company also has a strategic investment in Aviva NDB Insurance PLC.

"The shareholders of the company resolved to adopt the new name; "NDB Capital Holdings PLC" at its Annual General Meeting held on 21st June 2012 and is subject to completion of required formalities at the Registrar of Companies. The company is a 99.6% owned listed subsidiary of NDB Bank and was originally formed in 1983 as a venture capital firm," NDB Group said.

The Chairman of the Company, Ashok Pathirage commented said, "The Sri Lankan economy has bounced back strongly in the aftermath of the three decade long war. This has created ample opportunities for the private sector whilst the government has initiated a massive infrastructure development plan which includes the development of roads/ highways, sea and air ports and power

"We also have in place an investor friendly legal and regulatory framework and our financial reporting standards are in par with global standards. With this, Sri Lanka is expected to be elevated as a regional hub in the service sector offering Shipping, Aviation, Tourism and Financial Services located between Dubai and Singapore, exploiting its unique geographical advantage".

The Group CEO, Mr. Russell de Mel said, "The private sector is expected to play a vital role in the development process. The corporate sector would need huge capital investments that cannot be financed by traditional forms of bank borrowings. Such projects would require different types/sources of funding and the capital markets would play a vital role in channelling financing for the corporate sector.

"There would be an enhanced level of activity in the areas of mergers and acquisitions and financial restructuring. Sri Lankan entrepreneurs would be seeking joint ventures with regional and global players and risk management and mitigation products as the scale and complexity of businesses grow giving ample opportunities for credible investment banking service providers".

NDBIB, the flagship company of the investment banking cluster is the market leader in both debt and equity structuring and placements. NDBIB has introduced a range of innovative capital market instruments to Sri Lanka and has successfully executed a number of landmark capital market transactions in the country. NAWM, the largest private sector wealth management company in Sri Lanka with over 20 years of industry experience and approximately Rs. 50 Bn assets under management, offers customised wealth management solutions. NDB Stock Brokers, established in 1992 and one of the foremost brokering companies in the country that offers high-end research and brokerage services to both Sri Lankan and foreign investors in the Colombo Stock Exchange. Aviva NDB Insurance ranks second in terms of market share in the life insurance business and is a joint venture with Aviva, the largest insurance company in the United Kingdom. Backed by NDB Bank, the Company is in an advantageous position to secure attractive Private Equity investment opportunities.
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