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* Softlogic clarifies share purchase by Laugfs
Tue, Jan 15, 2013, 08:23 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 15, Colombo: Softlogic Group of companies today clarified a media report that has erroneously said the Laugfs Holdings has acquired Softlogic Capital, a leasing company, from Softlogic Holdings PLC.

In a disclosure to the Colombo Stock Exchange Tuesday, Softlogic said consequent to a Share Sale and Purchase Agreement entered between Softlogic Capital and Laugfs Holdings, the sale of 5.1 million shares of Softlogic Credit Limited held by the Softlogic Capital were acquired by the Laugfs Holdings last year.

The transaction with Laugfs Holdings pertains to the sale of 67% of Softlogic Credit Limited and not of Softlogic Capital as reported in the news item, the main company said.

Softlogic Capital, which is the Financial Services Sector arm of the Softlogic Group continues to be a subsidiary of Softlogic Holdings, the disclosure said.

The Laugfs has been precluded from using the words "Softlogic Credit" in the name of the company, according to the statement.

The Financial Services Sector arm of the Softlogic Group comprises Softlogic Finance, Asian Alliance Insurance and Softlogic Stockbrokers.

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