Colombo, Sri Lanka – August 31, 2026 – Tea Smallholder Factories PLC (TSF), a prominent entity listed on the Colombo Stock Exchange (CSE), has announced that its Thirty Second Annual General Meeting (AGM) will be held as a virtual event on Tuesday, September 22, 2026, at 10:00 a.m. The virtual format underscores the company’s commitment to modern corporate governance practices and shareholder convenience.
The notice, issued by LOLC Corporate Services (Private) Limited, the company’s secretaries, outlines a comprehensive agenda for the upcoming meeting, focusing on crucial financial reviews, board composition, and auditor appointments, which are vital for the company’s strategic direction in the coming financial year.
Key Resolutions for Shareholder Consideration
Shareholders will be presented with several significant resolutions during the AGM. A primary focus will be on the company’s financial health and its leadership structure. The proposed business includes:
- Financial Performance Review: Receiving and considering the Annual Report of the Board of Directors, which includes the Financial Statements for the financial year ended March 31, 2026, alongside the Auditors’ Report thereon. This provides a crucial overview of TSF’s operational and financial standing.
- Director Re-elections: Shareholders will vote on the re-election of three directors who retire in terms of the company’s Articles of Association. This includes Mr. N. R. Nanayakkara and Mr. K. Sivanesan, both retiring under Article 90, and Mrs. A. Goonetilleke, who retires by rotation in terms of Article 83.
- Re-appointment of Senior Directors: The meeting will address the re-appointment of two veteran directors, Mr. G. D. V. Perera (74 years of age) and Mr. T. Dharmarajah (70 years of age). In line with Section 211 of the Companies Act No. 07 of 2007, a special resolution will be put forth to waive the age limit stipulated in Section 210 of the said Act, allowing for their continued service.
- Independent Director Designation: Additionally, shareholders will be asked to approve the designation of Mr. T. Dharmarajah as an Independent Non-Executive Director of the Company, in adherence to Section 9.8.3 (ix) of the Listing Rules of the Colombo Stock Exchange. This move enhances corporate governance and board independence.
- Auditor Appointment: Messrs. KPMG, Chartered Accountants, are proposed for re-appointment as the Auditors of the Company for the ensuing financial year. Directors will also be authorized to determine their remuneration.
- Approval of Donations: The Board will seek approval, in terms of the Companies (Donations) Act No. 26 of 1951, for the making of donations as determined by the Directors for the current financial year and until the next AGM.
Shareholder Participation and Proxy Submission
Tea Smallholder Factories PLC emphasizes the importance of shareholder participation, even in a virtual setting. Shareholders are encouraged to review the Circular to Shareholders for detailed recommendations on the proposed resolutions.
For those unable to attend the virtual meeting, a Form of Proxy is provided, allowing shareholders to appoint a proxy to represent them and vote on their behalf. Completed proxy forms must be deposited at No. 100/1 Sri Jayawardenepura Mawatha, Rajagiriya, or forwarded to the email address: corporateservices@lolc.com, no later than 48 hours before the scheduled time of the meeting.
The Thirty Second Annual General Meeting represents a crucial juncture for Tea Smallholder Factories PLC, as it sets the stage for the company’s strategic direction and leadership for the upcoming fiscal year. The resolutions brought before the shareholders are fundamental to maintaining robust corporate governance and ensuring the continued stability and growth of the company.
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