Colombo, Sri Lanka – 29 August 2026 – Lanka Aluminium Industries PLC (CSE: LALU), a prominent player in Sri Lanka’s industrial sector, has officially announced that its Annual General Meeting (AGM) will be conducted virtually on Monday, 21st September 2026, at 10:30 a.m. The comprehensive details regarding the virtual assembly and its agenda were released in a formal announcement dated 28th August 2026, marking a pivotal event for the company’s shareholders and corporate governance.
The upcoming AGM is set to address a range of critical items, offering shareholders an opportunity to review the company’s performance and strategic direction. Among the key resolutions to be put forward, the Board of Directors has proposed a significant dividend payout, alongside crucial appointments and financial endorsements.
Key Resolutions for Shareholder Consideration
Shareholders will be required to vote on several important resolutions during the virtual meeting. These include:
- Financial Statements Review: To receive and consider the Audited Financial Statements for the financial year ended 31st March 2026, accompanied by the Annual Report of the Board of Directors and the Auditors’ report. This will provide a detailed overview of the company’s financial health and operational performance.
- Dividend Declaration: A proposal to declare a First and Final Dividend of Rs. 1.25 per share for the financial year concluded on 31st March 2026. This reflects the company’s commitment to returning value to its shareholders.
- Director Re-elections: The re-election of two key directors. Mr. D.S. Weerakkody, who retires by rotation in terms of Article No. 86, and Mr. Sriyan J. de Silva Wijeyeratne, who retires in terms of Article 92 of the Articles of Association, are both recommended for re-election by the Directors.
- Re-appointment of Director: To re-appoint Dr. J. M. Swaminathan, who is over 70 years of age, as a Director of the Company. This will be subject to passing an ordinary resolution as outlined in the Notice of Meeting.
- Auditor Remuneration: Authorizing the Board of Directors to determine the remuneration for the company’s Auditors, Messrs KPMG, Chartered Accountants, who are deemed to have been re-appointed.
- Charitable Contributions: Granting authorization to the Board of Directors to determine contributions to charities, underscoring the company’s commitment to corporate social responsibility.
Proxy Appointment and Instructions
Given the virtual nature of the meeting, Lanka Aluminium Industries PLC has provided comprehensive instructions for shareholders wishing to appoint a proxy. Shareholders can appoint a representative to vote on their behalf, with specific guidelines to ensure proper procedure.
The company has listed several individuals as potential proxies in order of precedence, should the primary appointee fail to represent the shareholder. These include:
- Mr. Jude Dinal Peiris (Colombo)
- Dr. Jayantha Mootatamby Swaminathan (Colombo)
- Mr. Paras Chandaria (London)
- Mr. Dinesh Stephen Weerakkody (Colombo)
- Mr. Sanjeev Kumar (India)
- Ms. Shamalie Madhu Jayatunge (Colombo)
- Mr. Sriyan Joseph de Silva Wijeyeratne (Colombo)
Shareholders are advised to complete the Form of Proxy legibly, indicating their voting instructions with an ‘X’ in the provided cages. The completed form must be deposited at the Registered Office of the Company at 1st Floor, Lakshman’s Building, 321, Galle Road, Colombo – 03, not less than 48 hours before the time appointed for holding the meeting. Detailed instructions for completing and submitting the proxy form are available in the official announcement documents.
This virtual AGM is a crucial event for Lanka Aluminium Industries PLC, shaping its financial landscape and corporate governance for the forthcoming year. Shareholders are encouraged to review the full details and participate in this important decision-making process.
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