Morison receives shareholder approval to delist from CSE

Sep 27, 2019 (LBO) – The shareholders of Morison have approved the delisting of its voting and non-voting shares from the CSE by way of a special resolution, the company said.

The company said over 75 percent of the shareholders voted at the Extraordinary General Meeting of the company held today.

The Company will now make an application to the Securities and Exchange Commission for its approval for the delisting as required by Rule 5 of the Gazette Extraordinary No. 1215/5 dated 18 December 2001.

In terms of the resolutions passed, the majority shareholder of Morison, Hemas Manufacturing (Private) Limited, will offer to purchase the shares of shareholders who wish to sell their shares in view of the delisting at a price of LKR 850/-, per voting share and LKR 700/- per non-voting share.

The company added that the offer will be duly sent out after approval is received from the SEC.

Related: Morison initiates second attempt to delist from Colombo Stock Exchange