A group of minority shareholders of Expolanka Holdings PLC have filed a case to prevent the company’s delisting.
“Nine minority shareholders of Expolanka Holdings PLC holding approximately 0.012% of the shares thereof, have filed an application before the Court of Appeal of the Democratic Socialist Republic of Sri Lanka challenging the de-listing of Expolanka Holdings PLC,” the Company said.
The Securities and Exchange Commission of Sri Lanka and the Colombo Stock Exchange (CSE) have been named as parties to the case. The respondents’ objections are due on May 29, 2024, and the matter is set for support on May 31, 2024. Expolanka Holdings has stated that it will resist the application.
In March this year, Expolanka Holdings PLC announced that it has decided to de-list the company’s shares from the Official List of the CSE, following a request from its principal shareholder SG Holdings Global Pte. Ltd.
SG Holdings proposed a delisting offer to minority shareholders at Rs. 185 per share. (Newswire)
