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This is how a listed entity of Colombo Stock Exchange violates the some basic rules of SEC
On 29 of July 2024 board of directors decided to delist the shares of East west properties and accordingly from 30 July 2024 ,trading of shares are suspended to facilitate the delisting process.
On 2 of September 2024 via stock filing company announces board of directors has decided not to proceed with delisting process after trading suspension for whole August
This clearly violates the rights of minority shareholders.
In addition to that on 26 september 2024 company executed an intra company transaction which exceeds 10% limit at a very lesser price compared to delisting offer.
This incident has clearly violates the rights of minority shareholders and raised some concerns about related party transactions
If any shareholder needs to make a complain to SEC we will get together and appear for our rights.
On 29 of July 2024 board of directors decided to delist the shares of East west properties and accordingly from 30 July 2024 ,trading of shares are suspended to facilitate the delisting process.
On 2 of September 2024 via stock filing company announces board of directors has decided not to proceed with delisting process after trading suspension for whole August
This clearly violates the rights of minority shareholders.
In addition to that on 26 september 2024 company executed an intra company transaction which exceeds 10% limit at a very lesser price compared to delisting offer.
This incident has clearly violates the rights of minority shareholders and raised some concerns about related party transactions
If any shareholder needs to make a complain to SEC we will get together and appear for our rights.
