Lekam Wasam Palitha Rohan Siriwardana and Richard Baldock have been appointed as Directors of MG Sugars Lanka (Private) Limited also called M. G. Sugar. (“MGSL”)
They replace Kotagaralahalli Peddappaiah Nagaraja and Arul Kamaldoss Thangasam, and these appointments was filed with theo Registrar of Companies as yesterday.
This is as per Article 3.3 in the Shareholders Agreement. These two officials have been nominated as Members (SLI Representatives) to the Board of Directors of M G Sugars Lanka (Private) Limited with immediate effect.
They have been nominated by the government of Sri Lanka (GOSL) in terms of Article 3.2 of the Shareholders agreement dated 11/08/2016 executed between MGSL, SLI Developments (Pte.) Ltd and the GOSL (the “Shareholders Agreement”).
In terms of clause 3.2 of the Shareholders Agreement, the Board of Directors of MGSL is to consist of a maximum of eight directors of which five are to be appointed by SLI and the remaining three are to be appointed by the GoSL.
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