Means By Default Board & Diri Sarvi Board?

cmnet123 · 1 Means By Default Board & Diri Sarvi Board? Sat Jun 18, 2011 8:59 am

cmnet123

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What does it mean by Default Board & Diri Sarvi Board? Cant we trade shares of companies in Default Board?

upuldi · 2 Re: Means By Default Board & Diri Sarvi Board? Sat Jun 18, 2011 10:33 am

upuldi

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Main Board

A company can be listed on the CSE Main Board if they meet the following eligibility criteria :

A Stated Capital not less than Rs. 100 Mn (Rule 2.1.2.a)
A net profit after tax for three consecutive years immediately preceding the date of application (Rule 2.1.2 b)
A minimum Public Holding of 25% of the total number of shares for which listing is sought which shall be in the hands of a minimum number of 1,000 public shareholders holding not less than 100 shares each. The Exchange may accept a percentage lower than 25% of the total number of listed shares if the Exchange is satisfied that such lower percentage is sufficient for a liquid market in such shares (Rule 2.1.2 c)

All listed companies are required to comply with the continuing listing requirements set in the Listing Rules of the Colombo Stock Exchange.

Diri Savi Board

Diri Savi Board is for small, medium and start up companies. Eligibility criteria to be listed on the Diri Savi Board are:

A Stated Capital not less than Rs. 35Mn.
A Public holding of 10%.

Default Board

"In the event of any violation and/or non compliance with any of the listing rules of the CSE by a listed company the CSE will transfer the securities of such company to the "Default Board". If a company fails to pay interest on Debt Securities listed on the CSE on the due date such company will also be transferred to the default board. Companies in the Default Board will be transferred out of the Default Board upon the company complying with the relevant listing rules."