Regulatory Alerts1995-01-01
Securities and Exchange Commission of Sri Lanka Take-overs and Mergers Code 1995 (Amended 2003)
The Securities and Exchange Commission of Sri Lanka issued these rules to regulate take-over and merger transactions involving listed public companies. The Code mandates strict disclosure requirements, including immediate announcements of offers, independent board advice, and precise information dissemination to shareholders. It establishes comprehensive procedures for offer timelines, partial bids, confidentiality, and insider trading restrictions to ensure market integrity.
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