19^th September 2011. The Richard Pieris and Company PLC and Richard Pieris Distributors Limited accepted the Mandatory offer made by Softlogic Capital Limited to Acquire the Ordinary Voting shares held by Richard Pieris and Company PLC and Richard Pieris Distributors in Asian Alliance Insurance PLC.

The Richard Pieris and Company PLC and Richard Pieris Distributors are holding 25% of the stated capital of Asian Alliance Insurance PLC.

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