Upali quits Nawaloka Hospitals Board

Wednesday, 30 November 2011 02:16 - - {{hitsCtrl.values.hits}}

Upali Dharmadasa has resigned from the Board of Nawaloka Hospitals Plc, after a 26-year stint.

At the time of his resignation he was functioning as a Non Executive Director.

Reasons for Upali’s move couldn’t be confirmed. He is the Joint Managing Director of Nawaloka Group of Companies and as at September 2011 he personally owned only 266 shares of Nawaloka Hospitals.

He and brother Jayantha were appointed to the Board in 1985.

Nawaloka Hospital’s Chairman/CEO Jayantha Dharmadasa owns a 32.68% stake in the company, whilst Nawaloka Construction Company Ltd. owns a 31.3% stake. He was appointed Chairman in August following the demise of the senior Dharmadasa.

High net worth investor Dr. T. Senthilverl owns a 20.4% stake whilst NSB holds a 1.26% stake.

Upali counts over 30 years of experience in Executive Management. Apart from being Joint MD of the Nawaloka Group of Companies, he is also Managing Director of Nawaloka Polysacks Ltd., a Director of New Nawaloka Hospitals Ltd., Nawaloka Industries Ltd., Nawaloka Piling Ltd., Nawaloka Developments Ltd., Nawaloka Timber Stores Ltd., New Nawaloka Trading Company Ltd., New Nawaloka Hotel Ltd. and Nawaloka Aviation Ltd.