COLOMBO, Sri Lanka – 29 August 2026 – ABANS ELECTRICALS PLC (CSE: ABAN.N0000) has officially announced its 44th Annual General Meeting (AGM) will be held virtually on Friday, 25th September 2026, at 10:30 a.m. The crucial meeting will address the company’s financial performance, directorships, and a proposed dividend for the financial year ended 31st March 2026, following guidelines issued by the Colombo Stock Exchange (CSE) for virtual gatherings.
The announcement, made on 28th August 2026, details the agenda for shareholders, with significant items including the adoption of the annual financial statements and the recommendation of a substantial dividend payout.
Key Resolutions for Shareholder Approval
The upcoming AGM holds several important resolutions for shareholder consideration:
- Financial Reporting: Shareholders will receive and adopt the Report of the Directors, the Audited Statement of Accounts for the year ended 31st March 2026, and the Auditors’ Report thereon. This provides a comprehensive overview of the company’s performance and financial health over the past year.
- Dividend Proposal: A key highlight for investors is the proposal to declare 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.
- Director Re-elections:
- Mr. Dinal Mario Rex Phillips, a Director of the Company, will retire by rotation in accordance with Article 89 of the Articles of Association and is recommended for re-election.
- Mrs. Aban Pestonjee, the esteemed Chairperson of the company, who is over seventy years of age, will also retire in accordance with Section 210 of the Companies Act No. 07 of 2007. A special resolution, in compliance with Section 211 of the Companies Act, has been received from a shareholder for her re-election, a move strongly recommended by the Directors.
- Auditor Re-appointment: The re-appointment of M/S Ernst & Young as the company’s auditors for the forthcoming year, with authorization for the Directors to determine their remuneration, will also be presented for approval.
Virtual Participation and Proxy Details
In line with current regulations and for the convenience and safety of its stakeholders, Abans Electricals PLC will conduct its AGM entirely virtually. Only essential officials will be physically present at the venue, while all shareholders and proxy holders will participate via an online meeting platform.
Shareholders wishing to participate virtually or appoint a proxy are required to adhere to specific registration procedures. The company has outlined detailed guidelines, including the use of the “Zoom Mobile App” or “Zoom Desktop App” for participation. Registration of Shareholder Details Forms must be submitted by 10:30 a.m. on or before 23rd September 2026. Duly completed proxy forms must be deposited at the company’s registered office or with the Company Secretaries, or emailed to aelagm2026@abansgroup.com, not less than forty-eight (48) hours before the meeting time.
Shareholders can also submit questions or concerns related to the agenda items via email to aelagm2026@abansgroup.com, 48 hours prior to the meeting, to ensure their queries are addressed by the Board during the AGM.
Access to Annual Report and Other Documents
ABANS ELECTRICALS PLC has made its Annual Report for 2025/2026 accessible on the Colombo Stock Exchange website (www.cse.lk) under the company profile for ABAN.N0000. Shareholders who prefer a printed copy can request one by completing and returning the attached Request Form by 18th September 2026. All related documents, including the Notice of Meeting, Form of Proxy, and virtual meeting guidelines, are also available on the CSE website.
The Board encourages all shareholders to participate actively in the 44th Annual General Meeting, emphasizing the importance of their engagement in the company’s governance and future direction.
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