Regulatory Alerts2016-07-20
Added · Updated
Directive on Sale of Agalawatte Plantation PLC Shares by Mackwoods Plantations
The Securities and Exchange Commission of Sri Lanka directs Claridge Stockbrokers (Private) Limited to withhold the sale proceeds from the transaction involving 15,200,000 shares of Agalawatte Plantation PLC belonging to Mackwoods Plantations (Private) Limited. This order remains in effect until the SEC examines whether Dr. Chrishantha Nonis was a duly authorized signatory for Mackwoods and whether shareholder approval was obtained for the sale. The directive also references a February 2010 prohibition on directors trading shares of companies on the Default Board of the Colombo Stock Exchange.
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