Yaddehige sells RPC firms despite vehement denials - Right of Reply

Richard Peiris & Co Ltd has complained that the article appearing in The Sunday Times FT last week headlined “Yaddehige sells RPC firms despite vehement denials” was incorrect and misleading. The company said Richard Pieris & Co. Ltd (RPC) did not control or dispose of any shareholding in Asia Capital Ltd and the Asian Alliance Insurance Co. Ltd as indicated in the said article. RPC hold 4,932,950 shares (4.48%) of Asia Capital Ltd. and it is not a subsidiary company of RPC as mentioned in the said article.

RPC holds only 6,250,625 shares (25%) of Asian Alliance Insurance Co. Ltd. and it does not control the Asian Alliance Insurance Co. Ltd. Richard Pieris & Co. still continues to hold these shares as to date, the letter said.