Expolanka Holdings PLC has announced key updates regarding its delisting process from the Colombo Stock Exchange (CSE), reflecting the company's strategic approach to stakeholder engagement and regulatory compliance. This follows the disclosure on May 28, 2024, of a legal challenge filed with the Court of Appeal of the Democratic Socialist Republic of Sri Lanka, contesting the delisting.

The Court of Appeal is set to hold a further hearing on June 6, 2024, to review the application challenging Expolanka Holdings' delisting.

In a strategic move to address the concerns of its diverse shareholder base, Expolanka Holdings has decided to extend the deadline for its Exit Offer until 4:30 PM on Monday, June 10, 2024. This extension responds to multiple requests from foreign shareholders and representatives of deceased shareholders who sought additional time to respond to the offer. The payments for the offers received between June 4, 2024, and June 10, 2024, will be processed by June 28, 2024.

The company reassures all stakeholders that the original timelines of the Exit Offer will remain unchanged, providing clarity and stability during this period of transition.