Morison receives shareholder nod for de-listing at Rs. 850 per share

Monday, 30 September 2019 00:20 - - {{hitsCtrl.values.hits}}

The shareholders of Morison PLC have approved the delisting of its voting and non-voting shares from the Colombo Stock Exchange by way of a special resolution having over seventy five per cent (75%) shareholders present and voting at the Extraordinary General Meeting of the Company held on the 27th September 2019. The Company stated that it will now make an application to the Securities and Exchange Commission (SEC) for its approval for the delisting as required by Rule 5 of the Gazette Extraordinary No. 1215/5 dated 18th December 2001.

In terms of the resolutions passed, the majority shareholder of Morison PLC, i.e. Hemas Manufacturing Ltd., , will offer to purchase the shares of shareholders who wish to sell their shares in view of the delisting at a price of Rs. 850, per voting share and Rs. 700- per non voting share. The offer will be duly sent out after approval is received from the SEC.

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