Colombo, Sri Lanka – 29 August 2026 – Abans Electricals PLC (CSE: ABAN) has informed its shareholders and the Colombo Stock Exchange (CSE) that its 44th Annual General Meeting (AGM) will be conducted virtually on Friday, 25th September 2026, at 10:30 a.m. The decision to host a virtual AGM follows the guidelines issued by the CSE and subsequent legal advice, ensuring continued transparency and shareholder participation.
The announcement, made on 28th August 2026, outlines the key resolutions to be addressed at the upcoming virtual gathering, covering financial performance, director re-elections, and auditor appointments, alongside a significant proposal regarding the re-election of the company’s long-serving Chairperson.
Key Resolutions for the 44th AGM
Shareholders of Abans Electricals PLC will deliberate on several crucial matters during the virtual meeting. The agenda includes:
- Financial Reporting: Receiving and adopting the Directors’ Report, the Audited Statement of Accounts for the financial year ended 31st March 2026, and the Auditors’ Report thereon.
- Dividend Declaration: Considering and declaring a first and final dividend of Rs 26/- per share for the financial year ended 31st March 2026, as recommended by the Board of Directors. This dividend announcement will be a key point of interest for investors.
- Director Re-election (by Rotation): The re-election of Mr. Dinal Mario Rex Phillips, a Director of the Company who retires by rotation in terms of Article 89 of the Articles of Association. The Directors have recommended his re-election.
- Chairperson Re-election (Special Resolution): The re-election of Mrs. Aban Pestonjee, the Chairperson of the company, who retires in accordance with Section 210 of the Companies Act No. 07 of 2007, being over seventy years of age. A shareholder has given notice of intention to move an Ordinary Resolution, as per Section 211 of the Companies Act, specifically declaring that the age limit of seventy years shall not apply to Mrs. Pestonjee for her re-election. The Board also recommends her re-election.
- Auditor Re-appointment: The re-appointment of M/S Ernst & Young as the company’s auditors and authorizing the Directors to determine their remuneration.
Virtual Meeting Procedures and Shareholder Participation
In adherence to the CSE’s guidelines for virtual AGMs, Abans Electricals PLC is implementing a robust online platform to facilitate shareholder engagement. Only essential key officials will be physically present at the venue, while all shareholders and proxy holders will participate remotely.
To ensure smooth participation, shareholders and proxy holders wishing to join the virtual meeting must register their intention by completing the “Registration of Shareholder Details Form.” This form is available on the Colombo Stock Exchange website (www.cse.lk/company-profile?symbol=ABAN.N0000) and should be submitted by emailing aelagm2026@abansgroup.com or sending a duly completed form by post to the Company Secretaries at least 48 hours prior to the meeting time. Login information will be provided in advance to registered participants.
Proxy Appointments and Shareholder Queries
Shareholders unable to attend the virtual meeting retain their right to vote by appointing a proxy to represent them. The Form of Proxy is available on both the company’s corporate website and the CSE website. Completed proxy forms must be submitted via email to aelagm2026@abansgroup.com or by post to the Company Secretaries, Varners International (Private) Limited, Level 14, West Tower, World Trade Center, Echelon Square, Colombo 01, or No. 5, Bethesda Place, Colombo 04, not less than 48 hours before the scheduled meeting.
Furthermore, shareholders with suggestions, questions, or concerns related to the agenda items are encouraged to forward them to aelagm2026@abansgroup.com at least 48 hours before the AGM. The Board has assured that all relevant queries will be discussed and addressed during the meeting.
This virtual AGM highlights Abans Electricals PLC’s commitment to corporate governance and leveraging technology to ensure shareholder engagement in the current operating environment.
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