This shareholding is of significant value to Golden Key depositors. CIESOT owns 22.8% of Ceylinco Insurance PLC and, with this order, and Kotelawala owning half of that, GK Depositors would benefit by having a 11.4% stake in Ceylinco Insurance PLC. The estimated value of this shareholding may well amount to Rs 2 Billion depending on the Ceylinco Insurane PLC share price.
The Court also ordered a further investigation into the other shareholders of CIESOT Private Limited, namely Mr Alwis and Mr Ranasinghe.
Full story : http://www.thesundayleader.lk/2014/02/16/golden-key-depositors-get-windfall-rs-2-billion/