Hemas in strategic sell down

Hemas Holdings Limited which went public in 2003 announced that the major shareholders transacted a strategic sell down of 8 million shares, thus increasing the public float from 17% to 25%.

The major shareholders (who now collectively hold 75%) indicated that this was a one-time sale designed to increase liquidity and facilitate investment by Institutional shareholders who could support the Group's expansion plans going forward.

The shares were purchased by Arisaig Partners, Singapore, Employees' Provident Fund, First State Investments, Singapore, HSBC, Hong Kong, Lloyd George Management, Hong Kong, National Savings Bank and Sri Lanka Insurance Corporation (Life fund)