Hayleys to divest stake in DIMO

Hayleys PLC will divest its shareholding of 28 per cent in Diesel and Motor Engineering PLC (DIMO), consequent to a strategic decision taken by its Board of Directors earlier this year.

Announcing the decision, the blue chip conglomerate said: “In accordance with a prior commitment, Hayleys agreed to sell the said shareholding to Ranjith Pandithage and/or his nominees.”

“Pursuant to reaching the aforesaid agreement, the same was recorded in writing by both parties by signing a share sale and purchase agreement on Wednesday.”

Wimalaratne appointed SLII council member

Sri Lanka Insurance Institute has appointed Pubudu Wimalaratne along with many others as a council member for the year 2008 - 2009.

Wimalaratne is currently the Head of Underwriting Operations - Non Motor at Sri Lanka Insurance. Wimalaratne achieved the Charted Insurer status from the Chartered Insurance Institute in UK and has obtained the Certificate in IT for Insurance Professionals from the British Computer Society.