Reconciliation of the definition of Public Holding — SECLK — LK

SEC
SECURITIES AND EXCHANGE
COMMISSION OF SRI LANKA
இலங்கை பிணையங்கள் மற்றும் பரிவர்த்தனை ஆணைக்குழு

By Hand

24th April 2014

Ref: SEC/LEG/14/04/32

To: The Colombo Stock Exchange

Directive issued under Section 13 (c) of the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987 (as amended)

The Securities and Exchange Commission of Sri Lanka (SEC) at its 334th meeting held on 8th April 2014 having deliberated on the practical issues arising from the calculation of the number and percentage of public share holding pursuant to the different definitions adopted in respect of Public Holding in the lock-in rules and the maintenance of a minimum public holding issued by way of directives, decided to reconcile the inconsistency.

Therefore the Colombo Stock Exchange is hereby directed to adopt and incorporate the definition of Public Holding in the Listing Rules of the Colombo Stock Exchange pursuant to the directive issued bearing reference SEC/LEG/13/12/37 dated 20th December 2013 on the maintenance of a minimum public float as the common definition of Public Holding. To effect the said definition of public holding, the definition of non public shareholders provided in directives SEC/LEG/13/08/38 dated 23rd August 2013 and SEC/LEG/13/10/16 dated 11th October 2013 shall stand amended accordingly.

The statement made with respect to the directives SEC/LEG/13/08/38 dated 23rd August 2013 and SEC/LEG/13/10/16 dated 11th October 2013 respectively at the end of Rule 10 of the directive SEC/LEG/13/12/37 dated 20th December 2013 on the maintenance of a minimum public float shall be revoked with immediate effect.

For avoidance of doubt the eligibility criteria stipulated in the re-instatement of introductions directive SEC/LEG/13/10/16 dated 11th October 2013 shall prevail in the event of any conflict with the present directive.

The Colombo Stock Exchange is further directed to inform all public listed companies of this directive.

This directive shall come into effect from this date hereof.

(Signature)

S Fernando (Ms)
Officer-in-Charge
AA/SW

28 29 30, 01. | 28 29 , . 01. | Level 28 & 29, East Tower World Trade Center Echelon Square, Colombo 01, Sri Lanka.


	+94 11 2439144-8		+94 11 2439149	www.sec.gov.lk
	+94 11 2331013-5		www.cmet.sec.gov.lk

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Issued under

LEG Directive No. 13/12/37 dated 2013-12-20Not in RegAlert
“adopt and incorporate the definition of Public Holding in the Listing Rules of the Colombo Stock Exchange pursuant to the directive issued bearing reference SEC/LEG/13/12/37 dated 20th December 2013”

Lineage: No known changes

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