Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Tuesday, April 17, 2012

Alex buys 1.5% more Union Bank stake for Rs. 117.5 m

Deputy Chairman Alex Lovell has increased his stake in Union Bank Plc following the purchase of 1.5% shareholding for Rs. 117.5 million.

Lovell, who functions as a Non Executive Director at Union Bank, on 5 April had picked up 5.34 million shares at Rs. 22 each, which was about Rs. 5 above the market.

That week Union Bank share closed at Rs. 16.50 whilst last week it closed 40 cents above.

By end last year, Lovell, held around 4.9% stake of 17.06 million shares and with last week’s purchase, he holds the highest number of shares among Directors in addition to being the fifth largest shareholder behind Vista Knowlege (18.5%), Sampath Bank (7.5%), Associated Electrical Corp (7.5%) and Select Gain (6.7%).

source - www.ft.lk