Shaw Wallace & Hedges Ltd made an offer to acquire an additional 16.03% stake in Guardian Capital Partners PLC (COSE:WAPO.N0000) for approximately LKR 130 million on October 28, 2021. Shaw Wallace & Hedges Ltd will acquire 4.14 million shares at LKR 32.3 per share. Prior to the transaction, Shaw Wallace & Hedges Ltd directly holds 8.7 million shares amounting to 33.68% stake and with parties acting in concert hold 21.69 million shares amounting to 83.97% stake. Shaw Wallace & Hedges Ltd’s financial adviser confirms that sufficient resources are available to Shaw Wallace & Hedges to satisfy full acceptance of the offer. Shaw Wallace & Hedges does not intend to make any major changes to the business operations of GCP, including a redeployment of fixed assets. Shaw Wallace & Hedges intends that the recruitment and termination of employees of GCP will continue to form part of the duties and responsibilities of the management of GCP, following the 0ffer and does not currently intend to terminate the services of any employees of GCP. The offer is unconditional as to acceptance. The offer will open on November 20, 2021 and close on December 13, 2021. SSP Corporate Services (Private) Limited acted as the registrar to Guardian Capital Partners PLC. Sulani Gunasena and Mariam Shazrina of NDB Bank acted as the financial advisors to Shaw Wallace & Hedges Ltd. Ernst and Young Transaction Advisory Services (Pvt) Ltd acted as the financial advisor to Guardian Capital Partners.