The Board of Directors of the Colombo Stock Exchange (CSE) has decided to delist the securities of Kalpitiya Beach Resort PLC subject to the approval of the Securities and Exchange Commission (SEC), the CSE announced today.
According to the announcement, the decision to delist the company is based on the following reasons.
1. The shareholders of the Company have been issued with shares of Hikkaduwa Beach Resort pursuant to the Amalgamation
2. The company does not exist at present subsequent to the amalgamation since the Registrar of Companies has removed all particulars relating to the company from the Register
3. Trading of the securities of the Company has been suspended
“Any person aggrieved by the aforesaid decision of the Board of Directors of the CSE may appeal to the Securities and Exchange Commission of Sri Lanka within 14 days from the date hereof,” the announcement further said.
Kalpitiya Beach Resorts PLC was a subsidiary of Citrus Leisure PLC and was one of three ambitious resort ventures undertaken by the Group.