By Hiran H.Senewirate
The ordinary shares of Metropolitan Resource Holdings Plc (MRH) would be delisted at the Colombo Stock Exchange (CSE), subject to Securities and Exchange Commission (SEC) approval, CSE source said.
In terms of Rule 5 of the SEC, under Section 53 of the Securities and Exchange Commission Act No 36 of 1987 (as amended) and published in Gazette Extraordinary No 1215/2of 18th December 2001, the directors make the necessary arrangements to purchase the shares of any shareholders who wish to sell their shares, at a price of Rs 28 per share, these sources said.
The ordinary shares of Metropolitan Resource Holdings Plc (MRH) would be delisted at the Colombo Stock Exchange (CSE), subject to Securities and Exchange Commission (SEC) approval, CSE source said.
In terms of Rule 5 of the SEC, under Section 53 of the Securities and Exchange Commission Act No 36 of 1987 (as amended) and published in Gazette Extraordinary No 1215/2of 18th December 2001, the directors make the necessary arrangements to purchase the shares of any shareholders who wish to sell their shares, at a price of Rs 28 per share, these sources said.
The company has already informed the CSE of their decision to delist from the CSE.
The company said a resolution to this effect was approved by the Board on 31 December 2015.It said the decision was made, as in the opinion of the management, there is no rationale for the company to continue to be listed on the CSE.
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