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Nestlé Lanka receives shareholders’ approval for delisting

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The special resolution to delist Nestlé Lanka PLC ordinary voting shares from the Colombo Stock Exchange was approved by Nestlé Lanka PLC shareholders at the Extraordinary General Meeting held on June 30, 2023, with over seventy-five percent (75%) of shareholders present in person or by proxy voting in favour.

The Board of Directors of Nestlé Lanka expressed their sincere gratitude towards its shareholders for placing trust in the company over the years and for accepting the resolution for delisting. Nestlé Lanka communicated its intention to delist from the Colombo Stock Exchange in May 2023 to help the company further strengthen its focus on core business activities. Following the approval received from its shareholders, the company will now seek formal approval of the Securities and Exchange Commission of Sri Lanka to delist its shares in accordance with the applicable regulations and procedures.

Having operated in Sri Lanka for over 115 years, Nestlé Lanka remains steadfast in its commitment towards Sri Lanka and its people. Nestlé Lanka also invested in capacity expansion worth Rs. 2 billion and in a biomass boiler worth Rs. 1 billion in 2022 and 2023 respectively.

The company manufactures over 90% of its products sold in Sri Lanka locally at their state-of-the-art factory in Kurunegala.

Tuesday, July 4, 2023 – 01:00

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