Softlogic completes Arrenga buyout

Softlogic Capital Limited PLC (SCAP), the financial services arm of Softlogic group yesterday said that it has completed the full acquisition of Arrenga Capital, a stock brokering firm, for a consideration of Rs.200 million.

Ascot Holdings PLC which has 25 percent holding in Arrenga Capital in a separate stock exchange filing said that they sold its stake to Softlogic Capital for Rs.50 million.

In the meantime, Samamtha Rajapaksha, one of the directors at SCAP and Softlogic Finance PLC, another finance subsidiary of Softlogic group said yesterday that he has tendered his resignation with effect from April 15.

Rajapksha is also an Executive Director at the Softlogic Holdings PLC (SHL). He was appointed to the SHL board on March 2008.