The Colombo Stock Exchange (CSE), in response to a letter in The Sunday Times FT last week under the above heading, said the CSE being a company Limited by Guarantee, presented its audited Annual Accounts and Directors Report (which includes contents of an Annual Report, as required under section 168 of the Companies Act No. 07 of 2007) to the Members at its AGM held on May 15.
Excerpts of the CSE response:“The CSE would like to emphasize that the CSE Listing Rules are applicable only to listed companies, which are public companies, and hence does not apply to the CSE. The CSE publishes and distributes a limited number of copies of the CSE Annual Report among media and other interested parties, as a public relations document. Until 2005, the CSE Annual Report included an annual review and statistics relating to stock market activity during the year.
However from 2005, the CSE has separated the annual statistics from this report and included all relevant statistics in the CSE Fact Book, in order to improve the availability of such information. Therefore, the CSE has met the necessary requirements of the Companies Act No. 07 of 2007.”