Multi Finance PLC has been officially delisted from the Colombo Stock Exchange (CSE) as of September 4, 2024, following its merger with L B Finance PLC.
The delisting process was conducted in accordance with Rule 4 (2) of the Securities and Exchange Commission of Sri Lanka (SEC) Rules, 2001, as outlined in Gazette Extraordinary No. 1215/2 dated December 18, 2001.
This delisting follows the successful completion of the amalgamation between Multi Finance and L B Finance, which was finalized in early August 2024. Shareholders approved the merger through a special resolution passed at an extraordinary general meeting held on June 28, 2024.
The merger has been executed in compliance with the Companies Act No. 07 of 2007, ensuring all legal and regulatory requirements were met. The Department of Registrar General of Companies (DRGOC) has issued a ‘Certificate of Amalgamation’ to validate the process, confirming the legal integrity of the merger.
With this strategic amalgamation, the newly formed entity is set to move forward with a strengthened financial foundation and enhanced operational capabilities.