Shareholders of Morison reject resolution to delist from CSE

Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted by the shareholders at the EGM.

Morison PLC last month proposed to delist ordinary voting shares and ordinary non-voting shares of the company from the official list of the stock exchange.

The company said their decision to delist shares is based on the inability of the company to meet the minimum public holding requirements of the CSE.

The Board arranged with Hemas Manufacturing (Pvt) Ltd to purchase shares from minority shareholders for an exit offer price of 850 rupees per share for voting shares and 700 rupees for the non-voting shares.