Expolanka says will resist fresh case against de-listing

Wednesday, 29 May 2024 02:37 -     - {{hitsCtrl.values.hits}}

  • Move by nine minority shareholders owning 0.012% stake

Expolanka Holdings PLC said it will be resisting a move by a few minority shareholders seeking Court of Appeal sanction to suspend the proposed delisting from the Colombo Stock Exchange. 

The company in a filing to the CSE said 9 minority shareholders holding approximately 0.012% of the shares thereof, have filed an application before the Court of Appeal challenging the de-listing of Expolanka Holdings PLC. Both the Securities and Exchange Commission of Sri Lanka and the Colombo Stock Exchange have been made parties to the said application.

The limited objections of the respondents are due today and the matter is fixed for support on 31 May.

“The Company will be resisting the said application,” Expolanka said in its disclosure.

The Daily FT on Monday exclusively reported the latest legal action by a few minority shareholders. See https://www.ft.lk/front-page/Expolanka-delisting-faces-fresh-legal-hurdle-in-Court-of-Appeal/44-762211