Expolanka announces final extension to exit offer

Wednesday, 12 June 2024 00:26 - - {{hitsCtrl.values.hits}}

Expolanka Holdings PLC has announced what it described as the “final extension” to its exit offer to minority shareholders.

In a filing to the Colombo Stock Exchange, the Company said that due to many requests from shareholders and stockbrokers requesting additional time, a decision has been taken to extend the exit offer till 4:30 p.m. on 13 June. The payments for the offer received from 11 to 13 June will be made on or before 3 July.

“We wish to inform our shareholders that this would be the final extension to the offer and there shall be no further extension given,” Expolanka said.

In a separate filing, Expolanka said in reference to applications by some of the minority shareholders before the Court of Appeal challenging the delisting, the Court refused the several applications made by the Petitioners for the interim reliefs and notice was issued returnable on 6 August.

It also said the delisting process continued and payments to shareholders pertaining to the first tranche of offers received as of 21 May were processed and made on 10 June. It added that all subsequent steps will continue as previously intimated.