Regulatory Alerts2014-03-12
SEC Sri Lanka Directive Extending Prevention of Alienation of Non-Current Assets for Touchwood Investments PLC
The Securities and Exchange Commission of Sri Lanka issued a directive on 11 March 2014 to extend restrictions on Touchwood Investments PLC to protect investors amid ongoing legal and financial distress. The company is prohibited from acquiring, disposing of, or alienating any non-current assets without prior SEC approval and must preserve all corporate records from alteration or destruction. This order rescinds the previous directive SEC/LEG/13/09/11 and remains in effect until further notice due to the company's failure to meet court-ordered settlement deadlines and its listing on the default board.
Share