Distilleries Company of Sri Lanka share swap gets court nod
ECONOMYNEXT – Courts have granted permission to seek shareholder approval for a plan to swap stock of Distilleries Corporation of Sri Lanka for its subsidiary Melstacorp Limited, the firm said in a statement.
After the swap, Melstacorp will be the parent company of Distilleries Corporation.
The company will call an Extraordinary General Meeting (EGM) on September 6, 2016, to get shareholder approval.
Entrepreneur Harry Jayawardene controls the firm.
After the swap, both Meltacorp and Distilleries Corporation will be listed. (Colombo/Aug03/2016)