Colombo, September 23, 2026 – Maharaja Foods PLC (MFPE) has officially informed the Colombo Stock Exchange (CSE) about a significant acquisition of its shares by GTV Global Holdings Pvt Ltd, an entity with strong ties to MFPE’s directorial board. The transaction, valued at approximately LKR 12.8 million, was disclosed in compliance with Section 7.8 of the CSE Listing Rules.
The announcement, made on September 22, 2026, details that GTV Global Holdings Pvt Ltd purchased 849,800 ordinary shares of Maharaja Foods PLC, highlighting the interconnected directorships between the two entities.
Interconnected Directorships Revealed
MFPE, a prominent player in Sri Lanka’s food sector, has confirmed that three of its directors also hold executive positions within GTV Global Holdings Pvt Ltd, the entity responsible for the recent share acquisition. This dual directorship ensures full transparency regarding the parties involved in the transaction:
- Mr. Guganathan Vijayananth: Serves as an Executive Director in both Maharaja Foods PLC and GTV Global Holdings.
- Mr. Guganathan Vithyanath: Holds the position of Managing Director/Executive Director at MFPE and is an Executive Director of GTV Global Holdings.
- Mrs. Thavamalar Guganathan: An Executive/Non-Independent Director of MFPE, she is also an Executive Director of GTV Global Holdings.
Significant Share Acquisition Details
The disclosure, issued by Chart Business Systems (Private) Limited, Company Secretaries to Maharaja Foods PLC, detailed the specifics of the transaction:
- Date of Transaction: September 21, 2026
- Transaction Type: Purchase
- Quantity Acquired: A total of 849,800 ordinary shares of Maharaja Foods PLC. This comprised two separate purchases of 500,000 shares and 349,800 shares.
- Price Per Share: LKR 15.10
- Total Transaction Value: Approximately LKR 12,841,980.
- Disclosure Date to Board: September 22, 2026
Market Transparency and Compliance
This disclosure is made in adherence to Section 7.8 of the Listing Rules of the Colombo Stock Exchange (CSE), which mandates listed companies to inform the exchange of dealings in their shares by directors or their connected persons. This rule is fundamental for upholding market integrity and investor confidence.
Such announcements are crucial for maintaining market transparency, ensuring that investors have timely access to information regarding significant movements in a company’s shareholding, particularly when involving key management personnel or their associated entities. The acquisition by GTV Global Holdings Pvt Ltd, with its direct links to MFPE’s board, signals increased insider commitment to the company’s future and will likely be observed closely by market participants as they assess MFPE’s prospects.
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