Changes to Mercantile investments

Mercantile Investments PLC announced the appointment of Saroja Hemakumar Jayawickrema Weerasuriya as the new Non-Executive Chairman for the company from 20th January 2012.

Weerasuriya counts for over 32 years' experience as a consultant in Civil/structural engineering design and project management and has been with MI board since January 2011.

The former Chairman and Managing Director Gerard Ondaatjie continue as the company's Managing Director upon this change.

Gerard Ondaatjie was first appointed to the Board in 1993 and possesses almost 18 years' experience in the financial services sector.

As additional changes to the Board composition, in accordance with the Finance Companies Corporate Governance Direction No.03 of 2008 and related amendments issued by the Central Bank of Sri Lanka, the Board of MI was strengthened with three new Non-Executive Directors joining in 2012.

Ms. Punyakanthi Tikiri Kumari Navaratne, was appointed as an Independent Non-Executive Director.

Further, Nawagamuge Hasantha Viraj Perera was appointed a Non-Executive Director, He has been attached to Lucian V Perera Associates a legal firm for over ten years and is a Director of five other organizations including Tangerine Beach Hotels PLC.

The other Director appointed was Singappuli Mudiyanselage Susantha Sanjaya Bandarain the capacity of an Independent Non-Executive Director. He has been a partner of B R De silva and Co. Chartered Accountants since 2004 to-date.