Trading of Entrust Securities PLC acquired by the Central Bank of Sri Lanka (CBSL) has been suspended by now.

During a media conference yesterday (04 January) CBSL Governor Arjuna Mahendran said that there were complaints of various financial irregularities within the company and that the deadline for the company to submit its restructuring plans to the CBSL would end by 6.00 pm yesterday.

While Entrust Holdings Limited owns 86.83 per cent of the capital shares of Entrust Securities PLC, Entrust Limited owns only 1.95 per cent shares. All the shares owned by the other shareholders are less than 0.7 per cent of the capital shares.

The CBSL Governor said yesterday that once this company is acquired its management would be entrusted with a state bank. Accordingly, the management of Entrust Securities PLC has been entrusted with the National Savings Bank.