Finlays shareholders give nod for CSE delisting at EGM

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The shareholders of Finlays Colombo PLC have given the nod to delist the company from the Colombo Stock Exchange (CSE) at an Extraordinary General

The shareholders at the EGM authorized the board of directors to submit an application to the Securities and Exchange Commission to delist the company. 
Accordingly, 35 million ordinary shares of the company will be delisted from the official list of the CSE and those shares be purchased by James Finalys Limited of Swire House, 59, Buckingham Gate, London.
The shareholders who wish to divest their shares could sell them at a price of Rs.302 per share.
The board of directors of Finlays initiated the delisting process as a result of the mandatory public free float requirements brought in by the market regulator.
Once the delisting is carried out, the company will henceforth be known as Finlays Colombo Limited.