Shaw Wallace to be renamed Lee Hedges

Friday, 23 November 2012 00:01 - - {{hitsCtrl.values.hits}}

The Board of Shaw Wallace and Hedges Plc has decided to propose to its shareholders to change the company’s name to Lee Hedges Plc.

An EGM will be convened shortly for this purpose whilst Registrar of Companies has granted his consent for the move.

The British Virgin Island registered Lee Hedges and Company owns a 51% stake in the Lankan entity. Other major shareholders include Pioneer Homes Ltd. (7%), Elgrin Investments (4.73%), and Dr. S.H.A. Gulamhusein (4%).

Last month, Chairman S. Robert Vamadenvan assumed the role of Managing Director as well, whilst longstanding CEO M.N. Gunasekera resigned. The company also announced the resignation of J. Swaminathan and R. Seevaratnam recently.