Colombo, Sri Lanka – 31 August 2026 – Kelani Cables PLC, a prominent player in Sri Lanka’s electrical cable manufacturing sector, has announced the scheduling of its Fifty-Seventh Annual General Meeting (AGM). The crucial shareholder gathering is set to take place on Wednesday, September 30, 2026, at 11:00 am, at the Auditorium of ACL Cables PLC, located at No. 60, Rodney Street, Colombo 08.
The announcement, made via a notice dated 28 August 2026, outlines a comprehensive agenda for the meeting, addressing key corporate governance matters, financial performance, and director appointments. This AGM provides shareholders with an opportunity to review the company’s performance and make vital decisions shaping its future trajectory.
Key Agenda Items for the 57th AGM
Shareholders attending the AGM will consider and vote on several important resolutions. The agenda primarily focuses on reviewing the company’s financial health, director re-elections, and other administrative approvals.
- Financial Review: The meeting will begin with the reception and adoption of the Directors’ Report and the Statement of Accounts for the financial year ended 31 March 2026, along with the Auditors’ Report thereon. This is a cornerstone of the AGM, offering transparency into Kelani Cables PLC’s financial performance.
- Director Re-election: Mr. Yudhishtran Kanagasabai, who retires by rotation in accordance with Article No. 85 of the Articles of Association, will be eligible for re-election as a Director.
- Special Resolutions for Director Appointments: Two significant ordinary resolutions, for which special notice has been given by a shareholder, will be put forward:
- The re-appointment of Mr. U. G. Madanayake as a Director. It is noted that Mr. Madanayake passed the age of 70 years in May 2006. The resolution seeks to declare that the age limit of 70 years referred to in Section 210 of the Companies Act No. 07 of 2007 shall not apply to him.
- The re-appointment of Mrs. N. C. Madanayake as a Director. Mrs. Madanayake passed the age of 70 years in August 2013, and the resolution similarly seeks to waive the age limit stipulated by Section 210 of the Companies Act.
These resolutions highlight the company’s intent to retain experienced leadership, subject to shareholder approval.
- Auditor Re-appointment: Messrs. KPMG, Chartered Accountants, are proposed for re-appointment as the Auditors of Kelani Cables PLC. Shareholders will also authorize the Directors to determine their remuneration.
- Charitable Donations: The Board of Directors will seek authorization from shareholders to determine donations to charities, reflecting the company’s commitment to corporate social responsibility.
Shareholder Participation and Proxy Information
Kelani Cables PLC encourages active shareholder participation in the AGM. Shareholders unable to attend in person are entitled to appoint a proxy to attend and vote on their behalf. A Form of Proxy is attached to the Annual Report for this purpose. It is important to note that a proxy need not be a shareholder of the company.
The instrument appointing a proxy must be deposited at the Registered Office of the company, No. 60, Rodney Street, Colombo 08, not less than forty-eight (48) hours before the time appointed for the Meeting. Shareholders are also kindly requested to hand over their duly perfected and signed Attendance Slip at the registration counter on the day of the meeting.
The notice, issued by Corporate Affairs (Private) Limited, Secretaries to the Board, underscores the importance of this meeting for the company’s governance and strategic direction as it navigates the dynamic economic landscape of Sri Lanka.
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