Sri Lanka’s Lamurep Investments has purchased over 37 million shares at Sunshine Holdings for Rs. 26.60 and Rs. 25.50 per share, according to a Colombo Stock Exchange disclosure released in this regard. Following the purchase, Lamurep now holds over 229 million shares at Sunshine, which is a 51.09% shareholding of the conglomerate that has a presence across a number of industries. On 11 August, 30,136,836 shares were purchased by Lamurep Investments Ltd. for Rs. 26.60 per share. On 12 August, Lamurep Investments purchased another 7,500,500 of shares for Rs. 25.50 per share. Accordingly, the total purchased number of shares remained at 37,637,336 and purchase of shares amounted to a 8.38% increase in the shareholding.The disclosure was made in accordance with the Rule 7.8 of the Listing Rules of the CSE as well as with section 200(2) read with section 198 of the Companies’ Act No. 7 of 2007. It further said that the disclosure was also made to the board of directors of the Company on 5 August 2021.About three years ago, Lamurep’s shareholding in Sunshine increased from 20.27% to 32.12% after director G. Sathasivam transferred his 11.85% shareholding in Sunshine through Tansinghe (Pvt.) Ltd. for a consideration of Rs. 760.7 million. Following this, Lamurep made a voluntary offer to buy the remaining shares at Sunshine for Rs. 47.50, which was then reportedly turned down by T. Senthilverl, a director and single biggest shareholder of Sunshine with about 22.42% shareholding.
