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Sri Lanka Equity Forum » Stock Market Talk » TO SHARE HOLDERS OF CITK

TO SHARE HOLDERS OF CITK

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1 TO SHARE HOLDERS OF CITK on Tue Aug 22, 2017 2:21 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dear Forum members, if there any body who has CITK shares Please write to CSE asking the reason for the delay of giving the approval for the amalgamation,

I already sent a E.Mail and waiting for the reply. The E.Mail which I sent as below:

Chief Executive Officer,
C/O Head of Legal,
Colombo Stock Exchange,
Colombo.


Dear Sir,


TRADING SUSPENSION OF KALPITIYA BEACH RESORT (CITK) SHARES
_____________________________________________________________




After I retired from my Employment, I invested all my savings with Colombo Stock market, thinking that my money will be safe with Colombo stock exchange supervision., and I bought some shares of CITK prior to their EGM on 3rd July 2017,  I was induced to buy this share after studying their amalgamation announcement., just after the EGM this share Trading was suspended, but up to now the Trading halt is not lifted, as such we are stuck with the limited amount of money we had.,  when I contacted the Company about the delay they said they have finished all the necessary documents and sent it to Colombo Stock Exchange on the 17th of July, for the final approval  and still waiting for the approval. So the delay is with CSE. 


I just wanted to know why the delay for the approval, is there any issue on this matter, if so why the CSE has not taken any action when they announced the amalgamation process. I am asking these because there are many small investors like me got stuck and waiting for a action.


With these kind of delays, we are losing confidence with the Colombo Stock Market, and keep on leaving from the market.


I hope you will answer for the above and clear my doubts and safeguard our hard earn money.




Thanks


Best Regards.,

2 Re: TO SHARE HOLDERS OF CITK on Wed Aug 23, 2017 1:43 am

Teller

avatar
Moderator
Great email from you Mr.fernando. appreciate Against and again ..
Countries like Sri Lanka , Strikes and noises will work better than emails and letters. In that scenario I'm ready to come Sri Lanka for a gather..in simply for investors rights..

3 Re: TO SHARE HOLDERS OF CITK on Thu Aug 24, 2017 1:46 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Still I am waiting for a reply for my e.mail, it seems to me CSE is still sleeping.... what a wonderful safe grader of investors. What use keeping seminars to promote SL Stock Market, no body will come to invest if the CSE act in this manner...

4 Re: TO SHARE HOLDERS OF CITK on Thu Aug 24, 2017 2:21 pm

Namal


Senior Equity Analytic
Senior Equity Analytic
100% aggree with you...

5 Re: TO SHARE HOLDERS OF CITK on Wed Sep 06, 2017 11:23 am

himesh


Equity Analytic
Equity Analytic
Yes. There is a issue in amalgamation. CITK has promised to build a hotel before 30th June 2017  by the IPO. As a share holder who bought shares @17.50 in IPO, I highly resist to the share swap @10 per share. The share swap must be done at 17.50 per share for 16 millions shares. Please send emails to SEC to swap shares at 17.50

6 Re: TO SHARE HOLDERS OF CITK on Wed Sep 06, 2017 12:36 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@himesh wrote:Yes. There is a issue in amalgamation. CITK has promised to build a hotel before 30th June 2017  by the IPO. As a share holder who bought shares @17.50 in IPO, I highly resist to the share swap @10 per share. The share swap must be done at 17.50 per share for 16 millions shares. Please send emails to SEC to swap shares at 17.50
Our  CSE  & SEC are deaf and blind they never answer to our queries.

7 Re: TO SHARE HOLDERS OF CITK on Thu Sep 21, 2017 1:23 pm

Eugine Fernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dear Forum members who ever has CITK shares (Which Trading was suspended) Please make a complain with SEC for the delay of lifting the Trading halt. Bcoz according to the Company they have got all the clearance from all other regulators except SEC, even they don`t know the reason why SEC taking so long to give the approval for the Restructure., may be they are playing politics., but as investors we are effected.

I have already made a complain to SEC about this, if they get more complains it might help us to get the trading to start.

Please make your complain with Mr.Tushara Jayaratne., Director, SEC. Tel: No: 0112143834 or to e.mail   tushara@sec.gov.lk

Thanks

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