Colombo, 31 August 2026 – Commercial Bank of Ceylon PLC (the Bank) has made a further disclosure to the Colombo Stock Exchange (CSE) concerning the shareholding of its newly appointed Independent, Non-Executive Director, Mrs. Sharmila Shashi Prabha Kandambi Jassim. The announcement, dated 28th August 2026, provides details of Mrs. Kandambi’s shares in the Bank as of her appointment date.
Key Details of Director’s Shareholding
According to the official communication from Commercial Bank, Mrs. Sharmila Shashi Prabha Kandambi Jassim (also known as Mrs. Shashi Kandambi) held a specific number of shares in the Bank when she assumed her role. As at 25th August 2026, the date of her appointment, Mrs. Kandambi’s shareholding was:
- Ordinary Voting Shares: 1,800
- Ordinary Non-voting Shares: 4,341
This disclosure is a follow-up to the Bank’s initial announcement on 25th August 2026, which communicated her appointment to the Board.
Adherence to CSE Listing Rules
The Bank stated that this release is made in strict adherence to Rule 7.8.b (Disclosures of Dealings by Directors) of the Listing Rules of the Colombo Stock Exchange. This regulation mandates transparency regarding the share dealings and holdings of directors, reinforcing good corporate governance practices within listed entities.
Such disclosures are crucial for maintaining market integrity and providing investors with comprehensive information about the financial interests of directors within the companies they govern. Commercial Bank of Ceylon PLC, a prominent institution in the Sri Lankan banking sector, continues to uphold these regulatory requirements, ensuring transparency for its shareholders and the wider investment community.
Significance of Independent Non-Executive Directors
The appointment of Independent, Non-Executive Directors like Mrs. Shashi Kandambi is vital for providing impartial oversight and strategic guidance to a company’s management. Their independence ensures that the Board’s decisions are made in the best interest of all stakeholders. The subsequent disclosure of their shareholdings further enhances trust and demonstrates a commitment to open and ethical corporate practices.
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