COLOMBO, Sri Lanka – 31 August 2026 – Hapugastenne Plantations PLC (CSE: HPL) has officially announced that its Thirty Third Annual General Meeting (AGM) will be held virtually on Tuesday, September 22, 2026, at 10:30 a.m. The notice, issued today, outlines the crucial agenda items for shareholders, including the consideration of the company’s financial performance and the re-election and re-appointment of several key directors.
Financial Review and Director Re-elections to Top the Agenda
The core business of the upcoming virtual AGM will be to receive and consider the Annual Report of the Board of Directors, encompassing the Financial Statements for the financial year ended March 31, 2026, along with the Auditor’s Report. This annual review is a critical juncture for shareholders to assess the company’s performance and strategic direction.
A significant portion of the meeting will focus on board composition, with several directors scheduled for re-election and re-appointment. The resolutions include:
- Re-election of Directors:
- Mr. N. R. Nanayakkara, who retires in terms of Article 94 of the Articles of Association.
- Mr. K. Sivanesan, who also retires in terms of Article 94.
- Mr. D. S. K. Amarasekara, who retires by rotation in terms of Article 87.
- Mr. U. H. E. Silva, who retires by rotation in terms of Article 87.
- Re-appointment of Directors Requiring Special Resolution:
- Mr. G. D. V. Perera: At 74 years of age, his re-appointment as a Director will require a special resolution to waive the age limit stipulated in Section 210 of the Companies Act No. 07 of 2007, in accordance with Section 211 of the same Act.
- Mr. T. Dharmarajah: Similarly, Mr. Dharmarajah, aged 70, will also require a resolution under Section 211 of the Companies Act No. 07 of 2007 to be re-appointed. Furthermore, the meeting will consider designating Mr. Dharmarajah as an Independent Non-Executive Director of the Company, in line with Section 9.8.3 (ix) of the Listing Rules of the Colombo Stock Exchange.
Auditor Appointment and Donations Approval
In a standard corporate governance procedure, shareholders will also vote on the re-appointment of Messrs. KPMG, Chartered Accountants, as the company’s auditors for the ensuing financial year. The directors will be authorized to determine their remuneration.
Additionally, the AGM will seek approval, in terms of the Companies (Donations) Act No. 26 of 1951, for the directors to make donations as determined by them for the current financial year and until the next Annual General Meeting of the Company.
Virtual Meeting Protocols and Proxy Instructions
Given the virtual format, shareholders are encouraged to utilize the proxy voting mechanism. LOLC Corporate Services (Private) Limited, the company secretaries, have advised that completed Forms of Proxy should be deposited at No. 100/1 Sri Jayawardenepura Mawatha, Rajagiriya, or forwarded to the email address: corporateservices@lolc.com. Proxies must be submitted not later than 48 hours before the scheduled time of the meeting to be considered valid.
The Board of Directors’ recommendations for these resolutions are detailed in a circular to shareholders, urging their participation and consideration of the outlined proposals.
This AGM is a crucial event for Hapugastenne Plantations PLC, a prominent player in Sri Lanka’s plantation sector, as it outlines its leadership and financial stewardship for the coming year, underscoring its commitment to transparent corporate governance and shareholder engagement.
Source: Read original document
