Expolanka receives SEC approval to delist from CSE

Expolanka Holdings this week received the approval from the Securities and Exchange Commission (SEC) to delist from the Colombo Stock Exchange (CSE).
The approval for the application that was put forward on April 3 was granted on May 7.
Accordingly, Expolanka will delist the shares from the official list of the CSE, at an exit offer price of Rs.185 per share.
In a filing to the CSE, Expolanka said it would take all actions necessary to complete the process expeditiously and would get in touch with all the shareholders in respect of the offer document shortly.
The company officially announced its decision to delist its ordinary shares on March 1. It received the approval from the shareholders at an Extra Ordinary General Meeting held on March 27, 2024. 
Expolanka Holdings PLC for the 12 months ended on March 31, 2024 reported a revenue of Rs.249.9 billion, a gross profit of Rs.47.1 billion, and a net loss of Rs.17.6 billion.
Whereas for the quarter ended in March 2024, the company reported a revenue of Rs.66.0 billion, a gross profit of Rs.12.8 billion and a net loss of Rs.5.3 billion.