21 Jul 2023 - {{hitsCtrl.values.hits}}
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Unisyst Engineering PLC, a Hayleys Group company, yesterday revealed plans to go private by delisting its shares from the official list of the Colombo Stock Exchange. A stock market filing by the company said its Board of Directors on July 19, 2023 resolved to initiate the desilting of the company’s shares from the official list of the CSE, subject to obtaining the necessary regulatory approvals and the approval of the shareholders of the company.
“The board has obtained the concurrence of the major shareholder of the company, Advantis Projects and Engineering (Pvt) Ltd. to purchase the shares from the shareholders who wish to divest their shareholding,” the filing said. Advantis Projects and Engineering, a unit of Hayleys Group, holds 65.14 percent stake in Unisyst Engineering. The last closing price of Unisyst Engineering share was Rs.5.80. As at June 30, 2023, the net assets per share of the company was negative Rs.4.13.
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