Listed companies granted more time to submit financial statements

The capital market regulator, the Securities and Exchange Commission (SEC), has granted a one-month extension to listed companies to release financial statements, as requested by the Colombo Stock
Exchange (CSE).

The decision was made with the CSE having shared with the SEC last week the inability of the listed companies to release their annual reports and financial statements, as specified under the listing rules, due to the restrictions imposed islandwide.

Accommodating the request, the SEC said that the listed companies, which were required to submit the financial statements on before May 31, 2021, are given an additional period of one calendar month.

On or before June 30, 2021, the listed entities are expected to put forward the annual reports together with the audited financial statements for the year ended on December 31, 2020.

For entities whose financial year ends on March 31, 2021, the interim financial statements for the last quarter must be put forward within the extension period.

The SEC highlighted that the concessions have been granted in light of the current COVID-19 pandemic situation and considering the requests made by the listed companies as represented
by the CSE.