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Suspension looming on share transactions of seven listed companies

The CSE has taken steps to suspend share transactions of seven listed companies. This suspension will reportedly come into effect from April2, 2018.The following are the listed companies whose trading will be thus suspended:: Lanka Cement PLC, PC House PLC, PC Pharma PLC, Ceylon & Foreign Traders PLC, Standard Capital PLC, Adam Investments PLC and  Adam Capital PLC.

 

The reason for the suspension of trading is their failure to submit their interim financial reports and annual financial reports during the period stipulated by the CSE.

 

The CSE states that the suspension of their share transactions would take place if they fail to submit the relevant financial reports on or before March 29, 2018.

 

Meanwhile, year end portfolio adjustments in some companies, especially institution transfers, boosted the Colombo Stock Exchange (CSE) yesterday . Certain companies disposed of less profit making stocks to show positive performance in their annual reports in order to pleased their shareholders/stakeholders, stock market analysts said.

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