With effect from 12^th September 2019, listed companies that do not comply with the ‘minimum public holding’ requirements under the listing rules, are transferable to a second board, instead of a ‘watch list’, as was previously the case. A listed entity is deemed to be non-compliant with the minimum public holding requirements, when such entity has failed to comply with such requirement for a consecutive period of one (01) month. Further details can be accessed via:

https://cdn.cse.lk/pdf/cse-rules/listing-rules/section_7_updated_as_at_12092019.pdf