Ukwatta Kankanamge Harith Ruwan Ranasinghe, Ahalape Gamage Maheen Priyantha, Ukwatta Kankanamge Sampath Lasantha Ranasinghemade and Vijitha Lokunarangoda made a mandatory offer to acquire remaining 49.69% stake in Sinhaputhra Finance PLC (COSE:SFL.N0000) for approximately LKR 300 million on December 9, 2019. The buyer will acquire 31.3 million shares at LKR 9.5 each. The buyer currently holds 50.31% stake in Sinhaputhra Finance PLC. Certain shareholders of Sinhaputhra Finance PLC holding 31.65% of shares have given undertakings to the buyer that they will not accept the offer. The offer period will commence on January 03, 2020 and will remain open until January 24, 2020. The Board of Sinhaputhra Finance is required to forward to every shareholder its views, comments and advice on the Offer Document and the advice given to it by an Independent Advisor within 14 days of the receipt of the Offer Document by the Board of Sinhaputhra Finance, i.e. on or before January 16, 2020. However, due to the delay in finalizing the Report submitted by the Independent Advisor to the Securities and Exchange Commission of Sri Lanka for its approval, the SEC has instructed to extend the Offer until January 31, 2020, in order to enable the shareholders to make an informed decision in respect of the Offer, upon receiving the approved documents.