Colombo Stock Exchange lifts trading ban on Brac Lanka Finance

Dec 15, 2016 (LBO) – Sri Lanka’s securities watchdog, the Securities & Exchange Commission has instructed the Colombo Stock Exchange to lift the trading ban imposed on Brac Lanka Finance. The SEC earlier imposed a trading suspension on Brac Lanka Finance under section 246 of the Companies Act. The securities regulator thereafter specified a procedure to provide dissenting shareholders with an opportunity to retain their shares in the company and to continue as shareholders thereof. The CSE said in a stock exchange notification today that the SEC has informed them that the specified procedure has been duly followed by the company.