Softlogic Group buys 44.5% shares of ODEL

Softlogic Group buys 44.5% shares of ODEL

Otara to focus on animal welfare

The Founder of ODEL Sri Lanka Otara Gunewardene and the directors Ajith Gunewardene and Ruchi Gunewardene sold out 44.5% of their company shares to Softlogic Holdings PLC an official said. The shares has been sold for 22 rupees per share to Softlogic at the Colombo Stock exchange. A source said the shares had been sold for about 2.6 billion rupees. Odel Plc is a unit of Malaysia's Parkson Retail Asia Limited.

However, in a statement, Otara Gunewardene explained that she sold all her shares to focus on ‘Embark’ which has done so much to improve the lives of street dogs on a daily basis.
Her statement:
Words cannot express the journey I have had; one that I have shared together with you and with everyone past and present at Odel. It has given me great pleasure to be a part of the love, joy and inspiration so many people, including myself, have experienced with a venture that started from the boot of my old blue station wagon.
I believe everybody has a purpose in life. One that goes beyond material gain and one that goes beyond a life that we may have been leading and loved leading. Twenty-five years on from when I started Odel and as I turn a grateful 50, I find it harder to silence what I know is my own true calling in life, which is to help animals. I have tried to do as much as I can for them over the years, as well as to help people understand the importance of living in a world in harmony with animals and people, but it is time to do more.

I have always known that I am here to help animals. I spent my childhood years surrounded by animals, dreaming of ways that I could help them and knowing the importance animals and the environment plays in our world and our lives. I am fortunate that I have the ability to relive my childhood again, but with more knowledge and a greater will than ever before of making a change. From the day I started selling my first garment until today, this has always been a part of the Odel culture. My love for fashion has always been linked with my passion for animals and to helping our world both people and animals co-exist for our future. It may have been a thought, it may have been an action but it has touched every customer every day and I hope it will touch many more in the years to come. Embark, both the brand and the amazing team who have done so much to improve the lives of dogs on a daily basis will continue to be a big part of what I will do in the future.

The decision to sell my shares in the company, besides being a pragmatic business decision, was principally to allow me to spend more of my time helping animals, working with more people to believe in the importance of living in a world where we respect and care for all living beings. The time I will spend on this will not permit my continued hands on involvement Odel requires. I will however, remain with the company for the foreseeable future and continue to work towards its continued success.

I am certain that the new shareholders of the company, together with the most wonderful and passionate people working at Odel, will take it to even greater heights with the advantage of their group’s synergies and focus.

I would like to thank all my shareholders, customers, stakeholders and all well-wishers who have been a part of this incredible journey. I hope that you will continue to support Odel in the future. I thank you from the bottom of my heart for believing in me and I hope you will be a part of my new journey.
I have always known that I am here to help animals. I spent my childhood years surrounded by animals, dreaming of ways that I could help them and knowing the importance animals and the environment plays in our world and our lives. I am fortunate that I have the ability to relive my childhood again, but with more knowledge and a greater will than ever before of making a change. From the day I started selling my first garment until today, this has always been a part of the Odel culture. My love for fashion has always been linked with my passion for animals and to helping our world both people and animals co-exist for our future. It may have been a thought, it may have been an action but it has touched every customer every day and I hope it will touch many more in the years to come. Embark, both the brand and the amazing team who have done so much to improve the lives of dogs on a daily basis will continue to be a big part of what I will do in the future.

The decision to sell my shares in the company, besides being a pragmatic business decision, was principally to allow me to spend more of my time helping animals, working with more people to believe in the importance of living in a world where we respect and care for all living beings. The time I will spend on this will not permit my continued hands on involvement Odel requires. I will however, remain with the company for the foreseeable future and continue to work towards its continued success. 
I am certain that the new shareholders of the company, together with the most wonderful and passionate people working at Odel, will take it to even greater heights with the advantage of their group’s synergies and focus.

I would like to thank all my shareholders, customers, stakeholders and all well-wishers who have been a part of this incredible journey. I hope that you will continue to support Odel in the future. I thank you from the bottom of my heart for believing in me and I hope you will be a part of my new journey.