What is the CDS? And What Does Chrissworld PLC Got to Do with It?

The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and enables companies and investors to come together in a transparent and regulated environment. One of Colombo Stock Exchange’s many essential services is the Central Depository System (CDS). This service is a subsidiary of the CSE and functions as a depository for the securities traded via the CSE. The CDS holds and manages these securities on behalf of listed companies.

The CDS plays a major role in pushing forward innovative methods and offering cost efficient solutions with benefits to its clients. Strengthening its growing client base for providing registrar services, the CDS has added to its portfolio Chrissworld PLC. This will allow the CDS to provide the listed company with a variety of services including share ledger maintenance, virtual AGM’s and a number of corporate actions.

To shed some light on Chrissworld PLC, the company was founded in 2013. Its services include providing third-party logistics services such as warehousing, inventory management, distribution and shipping. The company was listed on the CSE in May 2021 as the first company to be listed on the ‘Empower Board’.

Rajeeva Bandaranaike, CEO of the CSE, stated “we welcome Chrissworld PLC to the CDS portfolio. The CDS is very confident that Chrissworld PLC will fully benefit from the services provided.” He further added that the CDS is distinctively positioned to offer value added registrar services to listed entities in Sri Lanka.

Chairman of Chrissworld PLC, Christopher Perera, too expressed his immense pleasure and confidence in working alongside the CDS. He said “we are very pleased to sign this agreement with the CDS as the registrar. The process of working with the CDS has been a rewarding experience for Chrissworld PLC, and going forward, we are confident that there will be excellent cooperation between the two companies and that the CDS will efficiently manage all our affairs.”

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Source From Pulse.lk
Author: Editor
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