Associated Electrical Corporation (AEC) is delisting or moving out of the Colombo Stock Exchange (CSE) as a listed company since few shares are held by the public.
Part of the Associated Motorways (AMW) Group, AEC shares held by the public are just a small quantity after a majority stake in AMW was sold to a Dubai-based group. Subsequently there were changes in control at AEC too within the De Zoysa family (brothers Ajita and Tilak) which saw a small stake being retained by the public.
The AEC board on January 6 unanimously agreed to delist from the CSE and has called an EGM (extraordinary general meeting) of shareholders to seek their approval. No date has been set for the meeting, the CSE was informed this week. |
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