Colombo, Sri Lanka – 25 August 2026 – PALM GARDEN HOTELS PLC (CSE: PALM) has officially announced that its 52nd Annual General Meeting (AGM) will be held on Wednesday, September 23rd, 2026, at 10:00 a.m. The pivotal corporate gathering is set to proceed as an on-line audio-visual meeting, with necessary arrangements for the virtual platform facilitated at the company’s registered office located at No.100/1, Sri Jayawardenapura Mawatha, Rajagiriya.
Key Agenda Items for Shareholders
The upcoming AGM provides a crucial opportunity for shareholders to engage with the company’s leadership and deliberate on key financial and governance matters. The comprehensive agenda outlined in the notice includes:
- Financial Review: Shareholders will receive and consider the Report of the Directors and the Statement of Accounts for the financial year ended March 31st, 2026, alongside the Report of the Auditors thereon. This is a standard but vital component, offering insight into the company’s financial health and performance over the past year.
- Director Re-elections: The meeting will address the re-election of several key board members. Mrs. K.U. Amarasinghe will be presented for re-election as a Director, retiring by rotation in terms of Article 86 of the company’s Articles of Association. Furthermore, Dr. J.M. Swaminathan and Mr. T. Dharmarajah (as an Independent Director) are slated for re-election, retiring in terms of Section 210 of the Companies Act No. 7 of 2007.
- Auditor Re-appointment: M/s Deloitte Partners are proposed for re-appointment as the External Auditors of PALM GARDEN HOTELS PLC for the ensuing financial year, with their remuneration to be mutually agreed upon by the Directors.
- Donations Approval: In accordance with the Companies (Donations) Act No. 26 of 1951, shareholders will be asked to approve the making of donations by the Directors as determined by them for the current financial year and until the next Annual General Meeting.
Meeting Format and Proxy Submission
The decision to conduct the AGM as an on-line audio-visual meeting reflects the evolving corporate landscape, ensuring broad participation while maintaining efficiency. Shareholders unable to attend virtually have the option to appoint a proxy to represent them and vote on their behalf.
The Form of Proxy must be completed legibly with the shareholder’s full name and address, signed, and dated. Completed proxy forms can either be posted or hand-delivered to the ‘Company Secretaries’ at the registered office (100/1, Sri Jayawardenapura Mawatha, Rajagiriya) or scanned and emailed to corporateservices@lolc.com. For email submissions, the subject line must be “PALM AGM PROXY”, and the form must be received not less than 48 hours before the scheduled meeting time.
LOLC Corporate Services (Pvt) Ltd, serving as the Company Secretaries, issued the notice from Rajagiriya on August 24th, 2026, ensuring shareholders are well-informed ahead of this crucial corporate event.
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