Elpitiya Plantations PLC (EPP) has entered in to a Shareholders Agreement with Singapore-listed theme park developer and operator Sim Leisure Group and Venture Valley (Pvt) Ltd to formalize and strengthen the business relationship between the parties in order to develop and operate the proposed state of the art adventure park on a land possessed by the EPP.

Elpitiya Plantations PLC is an associate company of Sri Lanka-listed bluechip conglomerate Aitken Spence.

With an intention of developing and operating a state-of-the-art adventure park (“the Adventure Park”) in Sri Lanka Elpitiya Plantations PLC incorporated a special purpose company under the name of Venture Valley Private Limited in March 01, 2016.

Having formed the Special purpose company, EPP has had negotiations with Sim Leisure Group Limited (“SLGL”) of Singapore, a Company registered in the Singapore Stock Exchange engaged in the business of developing and operating a number of adventure theme parks.

On January 31, 2020, EPP entered into a Memorandum of Understanding with the said Sim Leisure Group Limited to negotiate the possibility of entering into a Joint Venture to develop and operate the Adventure Park.

Consequent to the negotiations, on April 12, 2020, EPP has entered in to a Shareholders Agreement with the said Sim Leisure Group Limited and Venture Valley (Pvt) Ltd to formalize and strengthen the business relationship between the parties, to develop and operate the proposed state of the art adventure park on a land possessed by the EPP.