21st September 2011. The Eastern Merchants PLC announced to Colombo Stock Exchange the company has acquires 50.30% of Asian Woodware Company (Pvt) Ltd. this is controlling interest of the Asian Woodware Company (Pvt) Ltd.
The Eastern Merchants PLC purchased 487,996 Shares at the Price of Rs.10.00 at the total consideration of Rs. 4,879,960.00. This is 50.30% Cumulative ownership of the company.
The Asian Woodware Company (Pvt) Ltd is a Manufacture and Exporter of Brush Handles and Wooden Furniture.
Further the Eastern Merchants PLC decided to buy 5000 shares of Eamel Exports Ltd for Rs. 750,000.00 from outside shareholders, which is a 10% holding of Eamel Exports Ltd.