ECONOMYNEXT – Sri Lanka’s listed companies can forego printing annual reports for the financial years ended 31st December 2021 and 31st March 2022 due to a paper shortage in the country as a result of dollar shortages.
“…waiver is to be granted regarding considering the limited availability of paper in the market at present to provide printed copies of the annual report,” the Colombo Stock Exchange (CSE) said in a statement.
However, the listed companies are required to publish their reports on CSE and company websites.
And in the event a shareholder requests for a printed annual report copy, the company must publish a statement in a national newspaper and on the CSE website that it is unable to print the annual report, the CSE said.
“It should also be noted in the AGM circular sent to the shareholders”, CSE said.
CSE also requires the listed company to designate a person to answer queries from shareholders relating to the circulation of the annual report.
For more details download the circular from here: WAIVER GRANTED TO LISTED COMPANIES ON CSE LISTING RULE 7.5(b)(i) REGARDING CIRCULATION OF THE ANNUAL REPORT IN PRINTED FORM
As early as February, the island’s publishers and writers complained that they were unable to import paper as prices had skyrocketed and most printers were pushed to close down their businesses.
The country had to postpone some of its secondary school exams too due to the paper shortage. (Colombo/May27/2022)