- Vallibel One PLC acquired 34,747,249 shares of The Fortress Resorts PLC on 21 October 2026, at Rs. 21.00 per share.
- The transaction is valued at roughly Rs. 729.7 million (34,747,249 × Rs. 21.00).
- Shares were purchased from Vallibel Leisure (Pvt) Ltd and Mr. K. A. D. D. Perera, Non-Executive Chairman of Vallibel One PLC.
- The dealings were disclosed to the Colombo Stock Exchange (CSE) on 22 October 2026 under Section 7.8 of the CSE Listing Rules, by P W Corporate Secretarial (Pvt) Ltd on behalf of Fortress Resorts.
- Three Non-Executive Directors of Fortress Resorts disclosed changes in their Relevant Interests arising from the deal:
- Mr. J. A. S. S. Adhihetty
- Ms. K. A. D. B. Perera
- Ms. K. Amarasinghe
- The Directors’ interests fall under Section 198 (1) (c) and (e) of the Companies Act, No. 07 of 2007.
- The disclosure to the Fortress Resorts Board was made on the same day as the transaction, 21 October 2026.
- Overlapping directorships:
- Adhihetty and K. A. D. B. Perera also serve as Non-Executive Directors of Vallibel One PLC.
- Amarasinghe is an Executive Director of Vallibel One PLC.
- K. A. D. B. Perera and Amarasinghe are also Non-Executive Directors of Vallibel Leisure (Pvt) Ltd.
- The transaction appears to be an intra-group transfer of Fortress Resorts shares within the Vallibel group, given the common directors and the Chairman’s involvement as a seller.
Note: the Rs. 729.7 million figure is calculated from the disclosed share count and price, and the filing does not state the total value or the resulting stake. The intra-group characterisation is an inference from the overlapping directorships.
