Exterminators moves from Empower Board to Diri Savi Board

From left: CSE CEO Rajeeva Bandaranaike, CSE Chairman Dilshan Wirasekara, Exterminators Managing Director Marlon Ferreira, Exterminators Chairman Chaaminda Ratnayake, Federation of Asia and Oceania Pest Management Associations Treasurer Raju Parulkar, Exterminator Director Suhaniya Pelpola, CSE Senior Vice President Legal Renu Ranathunge and Atarah Capital Partners Managing Director Rohan Senewiratne

The transfer of Ordinary Voting Shares of Exterminators PLC from the Empower Board of the Colombo Stock Exchange to the Diri Savi Board with effect from 2 December 2022 was approved by the CSE in consultation with the Securities and Exchange Commission of Sri Lanka. 

The occasion was marked with a special Bell Ringing Ceremony.

Representing the Federation of Asia Oceania Pest Management Association, its Treasurer Raju Parulkar, representing the Exterminators its Chairman Chaaminda Ratnayake, Managing Director Marlon Ferreira, Director Suhaniya Pelpola and representing the Manager of the Issue, Atarah Capital Partners Managing Director Rohan Senewiratne, were present at the occasion. 

The CSE was represented at the event by its Chairman Dilshan Wirasekara, the CEO Rajeeva Bandaranaike and its senior management.

While congratulating Exterminators PLC for the company’s progress from the CSE Empower Board to the CSE Diri Savi Board, the CSE Chairman Wirasekera stated that Exterminators listing this year followed a successful IPO by the company, and the issue was oversubscribed on the opening day itself, indicating the confidence the public had in the company.

Wirasekera also highlighted the significance of the transfer, that in a short span of eight months, the Company has shown a tremendous progress, and it is more commendable that Exterminators compliance throughout and they are being able to progress up to the next level, Diri Savi Board.

“The whole purpose of introducing the Empower Board on the CSE was to give a chance to small and medium enterprises of this country to use this national infrastructure to raise capital. While we have had some success, we would like to see far more companies make use of this opportunity,” added Wirasekera. 

He also thanked Atarah Capital Managing Director Rohan Seneviratne and his team for being at the forefront, helping SMEs come and list and use the CSE platform to raise capital.

Speaking at the Ceremony, Exterminators Chairman Ratnayake said: “The Company was formed as a proprietorship in 1998, moved into a partnership in 2000 and thereafter a private limited entity in 2004. In 2021 the company became a public limited company and on 30th March 2022, the company was listed on the ‘Empower Board’ to become a PLC company. Today the company achieved yet another milestone and created history by migrating to the ‘Diri Savi Board’ in just over eight months after going public.”

“This dream could not have been successful without the CSE’s support, and I present my special gratitude to the CSE, Chairman, CEO, and management for taking SMEs to this level; and also,  Atarah Capital Partners for supporting us during this process”, added Ratnayake.

Commenting on the company’s achievement, the Manager to the Issue, Atarah Capital Partners, Managing Director Senewiratne, appreciated the drive, determination, and enthusiasm of Exterminators in terms of their desire to list on the CSE.

He further said: “We noted the company had the required internal structures to get listed in terms of corporate governance, HR best practices, etc.; their internal processes and customer loyalty were sound and working well, their historical financial track record was impressive. Hence, we had no hesitation to onboard the company and start regulatory documentation and other IPO related activities targeting the listing.”