Following is the text of a letter addressed by JKH Deputy Chairman/Group Finance Director Gihan Cooray to the CSE’s Chief Regulatory Officer Renuke Wijayawardhana.
Further to the announcements to the Colombo Stock Exchange on 22 November 2021 and 22 December 2021 regarding the Private Placement of up to a maximum cumulative amount of the Sri Lankan Rupee (“LKR”) equivalent of USD 80 million to Asian Development Bank (“ADB”), through the issuance of up to a maximum of 122,500,000 new ordinary shares of the Company in two phases (Phase 1 & Phase 2), we wish to inform that Phase 1 of the Private Placement of ordinary shares of the Company to ADB was concluded on 19 January 2022.
Accordingly, 65,042,006 ordinary shares (“Initial Placement Shares”) of the Company were allotted to ADB at a price of LKR 154.50 per share on 19 January 2022 for a consideration of the LKR equivalent of USD 50 million. The Initial Placement Shares results in a post-issue dilution of 4.70 per cent in Phase 1 of the transaction.
Additionally, in terms of Phase 2, the Company has issued 39,025,204 non-tradable/non-transferable options (“Options”), which will entitle ADB to subscribe for additional new ordinary shares of the Company (“Option Shares”), for an investment amount of up to a maximum of the LKR equivalent of USD 30 million.
Therefore, the maximum number of ordinary shares that would potentially be issued under the entire transaction, assuming all Option Shares are subscribed for, will be 104,067,210, thereby capping the post-issue dilution on the conclusion of both phases to a maximum of 7.31 per cent.
The salient details of the Options are as morefully detailed in the Shareholder Circular dated 29 November 2021. Based on the subscription date of the Initial Placement Shares, the Option Exercise Period will be from 19 October 2022 to 18 January 2023.
AkzoNobel honours students of City School of Architecture at Colour Awards 2021-2022
– Annual design competition celebrates young design talent for fourth year running
AkzoNobel Paints Lanka (Pvt) Ltd., in partnership with the City School of Architecture (CSA), honoured the winners of the Colour Awards 2021-2022 at the CSA Graduation & Awards Ceremony held recently at the BMICH.
A partnership initiated four years ago by the producer of Dulux paints in Sri Lanka, the annual competition hopes to raise the bar of design and innovation standards and encourage young creative talent as important future players in a fast-evolving industry.
Every year the prize invites first year students from the City School of Architecture to face a new colour and architecture-themed design challenge. After several mentoring sessions by the academic staff of CSA -namely Archt. Nela de Zoyza, Archt. Anurangi Mendis, and Archt. Shayan Kumaradas-, participants are then required to produce a final submission and present it to a high-profile selection committee.
This year, each submission was reviewed by a star-studded panel of industry specialists, including Mr. Romesh de Silva, Ms. Charmaine Mendis, Archt. Shevanthi Basnayake, Archt. Kosala Weerasekera, Archt. Rehan Thillakeratne, and Archt Nandika Denipitiya, together with the Managing Director of AkzoNobel Paints in Sri Lanka, Mr. Wasantha Heenatigala.
Following a rigorous judging process, the five most impressive submissions were chosen, with winners being conferred a generous cash reward, as well the prestige of having being recognized by the pioneers of the paint manufacturing industry in Sri Lanka and the world.
Speaking at this year’s ceremony, Upendra Gunawardhana, Head of Marketing of AkzoNobel Sri Lanka commented, “As a leading global paints and coating company, we are convinced that in helping develop and highlight emerging talent, we are also playing a crucial role in shaping the future of the industry. With the Colour Awards we hope to provide a platform through which university students can hone their design thinking skills on an industry level, while at the same time also consistently set benchmarks of innovation for the years to come.”
“Over the years AkzoNobel has played a significant role in supporting the educational growth and creative development of our students through its Colour Awards,” said Archt. Professor Lal Balasuriya, Head of School of the City School of Architecture. “Here, young design aspirants are given the chance to test the limits of both, their creative ingenuity and industry acumen, and we’re sincerely grateful to AkzoNobel for this transformative opportunity.”
Emirates and Dilmah Tea celebrate 30 years of partnership
Dubai, UAE, May 2022 – Emirates and Dilmah Tea have enjoyed a longstanding partnership of brewing the finest teas on board and in Emirates’ airport lounges around the world for the past 30 years. To mark the milestone on International Tea Day, all Emirates’ passengers received a special tea box when they flew from Dubai a few days ago.
In addition, First Class passengers on flights to the UK were treated to a food pairing, while passengers in the Emirates’ Onboard Lounge were offered Dilmah Tea infused mocktails. The special tea pack for all passengers who flew on Saturday contained three different flavours: Ceylon Breakfast, an Emirates exclusive Turmeric Coconut and Vanilla tea, and the popular Earl Grey with Honey.
In First Class, Emirates offered the Brilliant Breakfast, one of the many gourmet teas created by passionate Tea Maker and Dilmah founder, Merrill J. Fernando. This was paired with the afternoon tea service on board.
Moroccan Mint Green tea was exquisitely paired alongside Labneh – a tangy and creamy yoghurt – with roast vegetables for vegetarians. While Dilmah’s Sench Green Extra Special tea – renowned for its delicate taste with herbal finish with a touch of sweetness – was served with sushi, particularly seafood.
“Emirates focuses on dishes that emphasise fresh ingredients of the highest quality. We pay special attention to every detail and the quality of the tea we offer our customers is no different. The fact that we have served Dilmah Tea for 30 years across all our cabins is proof of its quality and our satisfaction with the perfect cup of tea.
“We have an exceptional partnership with Dilmah and we have grown in tandem for the last 30 years. Over 9.6 million tea bags are used each year across our fleet with more than 10 tea varieties on offer, including an exclusive Emirates Signature Tea served in First Class,” said Thomas Ney, DSVP, Service Delivery at Emirates.
Dilhan C. Fernando, son of Dilmah Founder and CEO of the family company explained: “For 30 years we have grown a tea inspired collaboration with Emirates, offering customers a uniquely Emirates experience in tea. To celebrate the Pearl Anniversary of our partnership in tea, we made a tea that is as rare as it is magnificent. A seasonal tea with extraordinary finesse, handpicked from tea bushes prepared for months and crafted into a numbered limited-edition tea.
“Our co-operation with Emirates truly presents the luxury in fine tea, and – in our tea mocktails and food pairings – contemporary, tea inspired hospitality. For the last 30 years we have created these unique moments for Emirates customers either on the ground, in its lounges around the world, or at 40,000 feet and this year is no different. We are excited to have the special 30-year blend on board Emirates’ fleet.”
A world-class partnership
Millions of world class cups of tea have been poured for Emirates’ customers since the airline’s partnership with Dilmah began in 1992.
The airline brings the finest products on board through long standing partnerships worldwide, including support for local suppliers and artisans. Emirates takes the Dilmah brand to more than 130 destinations on six continents.
The teas offered on Emirates are chosen by popularity amongst customers, catering to different preferences like minty or citrus infusions as well as by looking at tea drinking trends. With an increasing focus on wellness amongst customers, the airline recently introduced a new tea in its airport lounges – Turmeric, coconut and vanilla featuring antioxidant properties.
On board, the most popular tea in Economy Class is the Dilmah Ceylon Black Tea while passengers in First and Business Class favour Moroccan Mint and Breakfast Tea. Emirates serves a selection of six teas in Business Class and its airport lounges, and a further six teas in First Class.
Wing Commander (Retd.) D. Pradeep S. Kannangara elected president, Industrial Security Foundation
The Industrial Security Foundation (ISF) which acts as the sole organization in Sri Lanka to represent the Private Security industry having incorporated by an Act passed in the Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kannangara as its President for the years 2022/2023 at its 30th annual General Meeting which was held at the PIM Auditorium in Borella. Wing Commander Pradeep Kannangara was appointed President while 14 other members were appointed to the Executive Committee, strengthening the ISF in order to drive and uplift the standards of the private security industry in Sri Lanka.
He has served on the ExCo consecutively since 2012 under four different presidents where he held the positions of Senior Vice President during the last three consecutive years. He has also been a committed member of the ISF and was awarded prestigious coveted FISF title due to his many valuable contributions to the organization and the Private Security Industry in Sri Lanka in 2012.
Wing Commander Kannangara’s journey into private security began after a successful career in the Sri Lanka Air Force for over 24 years where he served in many capacities finally being the Officer Commanding of the Special Air Borne Force. A recipient of the Ranasura Padakkama (RSP) Gallantry award for his bravery, sacrifices and service to the nation by the President of the Socialist Republic of Sri Lanka in 1990. He holds a Master’s in business management from the Edith Cowan University, Perth, Australia too and serves as a Board Director in AB Securitas (Private) Limited in Sri Lanka and AB Securitas Bangladesh Limited.
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