Browns Investments PLC acquired 50 million shares or 50 per cent shares of FLC Joint Venture Company (Pvt) Ltd., from Perpetual Holding Limited.

FLC Joint Venture Company (Pvt) Ltd was a joint venture between Browns Investments and Perpetual Holding Limited and following this acquisition Browns Investments PLC holds 100 per cent of FLC Joint Venture Company (Pvt) Ltd.

FLC Joint Venture Company (Pvt) Ltd. holds 747,600,000 shares or 54.65 per cent of FLC Holdings PLC.

Accordingly, the following have been appointed to the FLC Holdings Board of Directors effective 12 March 2015:

I.C. Nanayakkara as Chairman, Non-Executive Director, J.M.S. de Mel and Sunjeevani Kotakadeniya as Executive Directors, A.I. Fernando and U.H. Palihakkara as Independent Non-Executive Directors, K.U. Amarasinghe, W.D.K. Jayawardena and D.S.K. Amarasekera as Non-Executive Directors.