Property Development Plc announced that Mr. Naththe Kankanamge Saminda Jayasekara- Non Executive Independent Director /Chairman, Mr. Hewa Nadugala Abeysinghe- Non Executive Independent Director, Mr. Mahamendige Christe Mendis- Non Executive Independent Director, Mr. Padmasiri Ranawakaarachchi- Non Executive Independent Director and Mr. Subasinghe Mudiyanselage Sarath Chandralal Jayasuriya - Non Executive Non-Independent Director will be resigning from the Directorate of the Company with effect from February 1, 2016. The company also announced the appointments of Mr. Kaluchchigantage Avanthi Kumara Jayatilake- Non Executive Independent Director, Mr. Hetti Pathirannehelage Ajith Gunawardana- Non-Executive Non-Independent Director, Mr. Ranjith Premasiri Hahvala - Non-Executive Independent Director, Mr. Weeratne Mullegamage Thanuja Lasitha Weeratne - Non-Executive Independent Director and Mr. Sivaaji Moditha De Zoysa -Non-Executive Independent Director as Directors of the Company with effect from 1 February 2016. Mr. Hetti Pathirannehelage Ajith Gunawardana served as a Director /Chief Executive Officer of Janashakshi Securities Ltd. Mr. Gunawardana also served as a Director of Kshatriya Holdings PLC, First Capital Holdings PLC, Kelsey Homes PLC and Kotmale Holdings PLC.

He also worked at Ceylmco Shriram Securities Ltd. and Ceylinco Shriram Capital Management Services Ltd. as an Assistant General Manager. Mr. Ranjith Premasiri Halwala has had a career in a Commercial Banking spanning 35 years. He has served with Citi Bank Sri Lanka, Deutsche Bank Colombo and Seylan Bank PLC.

He currently provides Independent Consultancy Services on Management, Finance, Accounting and Process improvement to small business ventures. Mr. Weeratne Mullegamage Thanuja Lasitha Weeratne has completed the Postgraduate Higher Diploma in Marketing from the Chartered Institute of Marketing, UK. He is currently attached to Serendib Marinas International (Pvt) Ltd. as the CEO.