By Jithendra Antonio
Employees provident Fund (EPF) and the Laugfs Gas (LGL) have emerged among top seven shareholders of Ceylon Grain Elevators (GRAN), replacing Perpetual Capital Ltd and Perpetual Asset Management Ltd, the latest quarterly financials outline.
As per March quarter financial accounts of GRAN, EPF has become the fourth largest shareholder of the company holding 8.4 percent (5, 004,900 shares), while shareholder Laugfs Gas becoming the sixth largest shareholder of GRAN with 1.67 percent (1 million shares) of the company.
The accounts also give a hint from whom the two entities have bought shares. Perpetual Capital stake that was 2.134 million shares as at 31 December 2011, has dipped to 693,800 shares on 31 March 2011, and Perpetual Asset Management’s 1.2 million shares had dropped to 456,600 shares as at 31 March 2011.
Meanwhile, as per financials, several shareholders such as Aviva NDB Insurance, Symphony Capital and Ajith Devasurendra had disappeared from the top 20 shareholders list of GRAN whilst Nimal Perera, Guantum Capital and S.N.M. Rishan have reached the Top 20 list.
Back in 11 February 2011 it was reported that Perpetual Capital, an investment fund, has bought 10.3% stake in Grain Elevators belonging to Singapore’s Prima Group on February 10, a move that reflected bullishness in the food and beverage sector of the country. Meanwhile, reports said that analysts speculated part of the increase was due to the interest by Perpetual whilst high networth investor Ishara Nanayakkara of LOLC-Browns fame had picked up around 2.5% stake, and top investor Nimal Perera collecting 1%.
source - www.dailymirror.lk
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