Hayleys subsidiary Unisyst Engineering to de-list

Hayleys PLC subsidiary Unisyst Engineering PLC yesterday announced plans to de-list from the Colombo Stock Exchange. 

It said the Board of Directors resolved to initiate the delisting of the Company’s shares from the CSE subject to obtaining necessary regulatory and shareholder approvals.

It also said the Board obtained the concurrency of the major shareholder owning 65.14% stake Advantis Project and Engineering Ltd., to purchase the shares from shareholders who wish to divest their shareholding.

The public holding of Unisyst is 34.78% held by 1,630 shareholders. Its shares last traded at Rs. 5.80. In the quarter ended on 30 June 2023, shares traded at a highest of Rs. 6.10 and lowest of Rs. 5 before closing at Rs. 5.90. Its net assets per share was a negative Rs. 4.13. Its retained loss was Rs. 725 million as at 30 June 2023.