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Rules on Minimum Public Float as a Continuous Listing Requirements

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Rules on Minimum Public Float as a Continuous Listing Requirements

Post by Sriranga on Thu Mar 20, 2014 2:26 pm


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Re: Rules on Minimum Public Float as a Continuous Listing Requirements

Post by Investor on Thu Mar 20, 2014 3:50 pm

how they define non public share holders , public share holder, just doubt. top 20 major shareholders also include non public share holders ? or only company , directors and related parties all others public shareholders.

Please give a clear idea about it .

Thanks
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Re: Rules on Minimum Public Float as a Continuous Listing Requirements

Post by Sriranga on Thu Mar 20, 2014 8:38 pm

May be the following extract from CSE website will give some idea.


‘Non-Public Shareholders’ shall mean the following parties who hold, directly
or indirectly, shares of the applicant Entity;

a) its parent, any subsidiary or associate companies or any subsidiary or
associate companies of its parent company;
b) its directors who are holding office as directors of the Entity and their
Close Family Members;
c) Chief Executive Officer and his/her Close Family Members;
d) Key Management Personnel and their Close Family Members;
e) Any party acting in concert with the parties set out in (a), (b), (c) and (d)
above; or
f) Any single individual or a company holding jointly or severally 5% or
more of the shares of the applicant Entity

‘Close Family Member’ shall mean the spouse or a financially dependent
child.

‘Key Management Personnel’ shall mean those persons having authority and
responsibility for planning, directing and controlling the activities of the
applicant Entity, directly or indirectly, including any director (whether
executive or otherwise) of that Entity.

‘Public Shareholders’ shall mean any party who hold shares of the applicant
Entity other than the parties identified as Non-Public Shareholders.

Source: http://www.cse.lk/pdf/Section2_ListingSharesDebentures.pdf

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Re: Rules on Minimum Public Float as a Continuous Listing Requirements

Post by Investor on Thu Mar 20, 2014 8:50 pm

Redbulls wrote:May be the following extract from CSE website will give some idea.


‘Non-Public Shareholders’ shall mean the following parties who hold, directly
or indirectly, shares of the applicant Entity;

a) its parent, any subsidiary or associate companies or any subsidiary or
associate companies of its parent company;
b) its directors who are holding office as directors of the Entity and their
Close Family Members;
c) Chief Executive Officer and his/her Close Family Members;
d) Key Management Personnel and their Close Family Members;
e) Any party acting in concert with the parties set out in (a), (b), (c) and (d)
above; or
f) Any single individual or a company holding jointly or severally 5% or
more of the shares of the applicant Entity

‘Close Family Member’ shall mean the spouse or a financially dependent
child.

‘Key Management Personnel’ shall mean those persons having authority and
responsibility for planning, directing and controlling the activities of the
applicant Entity, directly or indirectly, including any director (whether
executive or otherwise) of that Entity.

‘Public Shareholders’ shall mean any party who hold shares of the applicant
Entity other than the parties identified as Non-Public Shareholders.

Source: http://www.cse.lk/pdf/Section2_ListingSharesDebentures.pdf

Thanks REdbulls!
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Re: Rules on Minimum Public Float as a Continuous Listing Requirements

Post by First Guy on Thu Mar 20, 2014 9:54 pm

Will Gainer go out of business with this rule? Wink
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