The board of Directors of Eastern Merchants PLC resolved on the 10th of December to sell the Company’s warehousing complex located at No. 101 Gonawala Road Sapugaskanda and No. 20 Udaya Mawatha, Spaugaskanda (636.1 perches in extent) to Brown Engineering and Construction Pvt. Ltd., for a consideration of Rupees Six Hundred and Forty Five Million (LKR 645, 000,000). The Company intends to use the proceeds to facilitate its growth and expansion plans.