Ceylon Leather Products PLC subscribed to 3,064,485,280 shares in South Asia Textile Industries Lanka (Private) Limited through a Rights Issue for Rs. 306,448,528 thus increasing its hold in South Asia Textile Industries to 80.39 percent.

Meanwhile, Lanka Century Investments PLC which is the controlling shareholder of Ceylon Leather Products PLC subscribed to 480,703,600 shares in South Asia Textile Industries Lanka (Private) Limited through a Rights Issue for Rs. 48,070,360 thereby increasing its hold in South Asia Textile Industries Lanka to 12.61 percent.

Hence, Ceylon Leather Products PLC and Lanka Century Investments PLC now hold 93 percent of the issued shares of South Asia Textile Industries Lanka (Private) Limited.