Expolanka formally announces de-listing, change of name

Friday, 29 March 2024 00:32 - - {{hitsCtrl.values.hits}}

Expolanka Holdings PLC yesterday formally announced the de-listing of itself from the Colombo Stock Exchange and change of the Company’s name.

This was following the approval of two resolutions by shareholders at an Extraordinary General Meeting held on Wednesday.

“The company’s shareholders approved the delisting of the ordinary shares of Expolanka Holdings PLC from the official list of the Colombo Stock Exchange. This decision is subject to the approval of the Securities and Exchange Commission of Sri Lanka,” Expolanka said in a statement.

“The shares of any shareholder who wishes to sell their shares due to the delisting will be purchased by SG Holdings Global Pte Ltd at a price of Rs. 185 per share,” it added.

Upon the delisting of shares from the CSE, Expolanka Holdings PLC will be deemed to have changed its status from a public listed company to a public company. In accordance with the provisions of the Companies Act, No. 07 of 2007, the name of the company will be changed from ‘Expolanka Holdings PLC’ to ‘Expolanka Holdings Limited’.

These resolutions were passed as Special Resolutions as defined in Rule 5 (2) (a) of the SEC Rules published in Gazette Extraordinary No. 1215/2 dated 18 December 2001.

On Wednesday as exclusively reported by the Daily FT yesterday, at the EGM the resolution on delisting won 5,138 votes in favour (80.84%) and 1,218 against (19.16%) from a valid votes base of 6,356 both proxies and shareholders. The exit offer price won 5,129 votes (81.12%) in favour and 1,194 (18.88%) against from a valid vote base of 6,323 from proxies and shareholders in person.