The stakeholders of Serene Pavilions Hotel in Wadduwa have succeeded in reaching a settlement over the hotel’s shareholdings issue.

Accordingly, Anura Lokuhetti who owned 30 per cent shares in this hotel sold all his shareholdings to two other shareholders, Sumith Guruge and Jit Warnakulasuriya, said Sumith Guruge.

Sumith Guruge further added that following this sale of shares during the settlement of the issues, 30 per cent shares of this hotel is now owned by him while Jit Warnakulasuriya owns 27 per cent, 38 per cent by British national and famous cricketer Sir Clive Leech and 05 per cent by Indian national Gautham Radia.

While issuing a statement in September 2013, Directors of the hotel Sumith Guruge and and Jit Warnakulasuriya had stated that the full investments for the construction of this hotel had been made in 2004 by 80 year old Sir Clive Leech who had also received an honourary knighthood.

The statement also said that at that time Sir Clive Leech, Stephanie Leech, Anura Lokuhetti, Dilani Lokuhetti, Jit Warnakulasuriya and Sumith Guruge were included in the board of directors.

However, due to the controversy arising over the appointment of a new Board of Directors leading to courts, both parties had taken legal actions against each other some time ago.

During this agreement to sell the shares and settle the shareholdings issue, both parties have taken steps to withdraw their cases.