Discussions ongoing on divesting shares in management company - Maskeliya
2008-10-07 12:25:00

Maskeliya Plantations Plc on Tuesday told the Colombo Stock Exchange (CSE) that a possible divestment of shares in its management company may have triggered interest in its stock.

The stock gained last Friday and the following Monday but it fell on Tuesday. The company was asked to explain by the CSE as to whether there was any reason for the sharp movement in the stock.
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The company said it was unaware of any reason. However it said in the letter to the CSE that, “however some of the directors of the company who are also directors of Richard Pieris & Co have indicated that discussions/negotiations are underway for a possible divestment of the shares of the management company (RPC Management Services Pvt) Ltd of Maskeliya which may be the reason for speculation.” .