Colombo, Sri Lanka – 04 September 2026 – Waskaduwa Beach Resort PLC (CSE: CITW) has officially announced the convening of its Fifteenth (15th) Annual General Meeting (AGM) for the financial year ended 31st March 2026. The crucial gathering for shareholders is scheduled for Thursday, 24th September 2026, at 10.00 a.m., and will take place at the Sri Lanka Foundation, Lecture Hall No. 03, No. 100, Padanam Mawatha, Independence Square, Colombo 07.
The AGM agenda outlines a comprehensive set of items covering the company’s financial performance, directorial appointments, auditing matters, and a significant proposal for amending the Articles of Association. This meeting provides shareholders with the opportunity to engage directly with the company’s leadership and contribute to its future direction.
Key Agenda Items
Ordinary Business
Shareholders will be presented with the following matters for consideration and approval:
- Annual Report and Financial Statements: To receive and approve the Annual Report of the Board of Directors on the affairs of the Company and the Financial Statements for the year ended 31st March 2026, along with the Report of the Auditors thereon. This is a fundamental aspect of corporate transparency, allowing shareholders to review the company’s financial health and operational performance.
- Re-election of Directors:
- The re-election of Mrs. Varuni Sonali Fernando Amunugama as a Director, who retires by rotation in terms of Articles 88 and 89 of the Articles of Association of the Company.
- The re-election of Mr. Janesh Manoj Bandara Pilimatalawwe as a Director, also retiring by rotation under Articles 88 and 89 of the Articles of Association.
These re-elections are critical for maintaining the stability and continuity of the Board’s leadership.
- Re-appointment of Auditors: To re-appoint the retiring Auditors, Messrs Ernst & Young, Chartered Accountants, as the Company’s Auditors for the forthcoming period and to authorize the Directors to determine their remuneration. This ensures ongoing independent oversight of the company’s financial reporting.
- Authorization for Donations: To authorize the Directors to determine donations for the year ending 31st March 2027 and up to the date of the next Annual General Meeting. This allows the Board flexibility in supporting corporate social responsibility initiatives.
Special Business
A significant special resolution will be put forward for shareholder approval:
- Amendment to Articles of Association: To consider and, if thought fit, pass a Special Resolution to amend the Articles of Association of the Company. The proposed amendment involves including Article 121(iv) under the existing heading, ‘Alternate Directors’, stating: “The appointment of an Alternate Director shall be subject to the approval of the Board.” This amendment aims to enhance governance and control over the appointment of alternate directors, ensuring such appointments align with the Board’s collective discretion.
Shareholder Participation
Waskaduwa Beach Resort PLC emphasizes the importance of shareholder participation. Any shareholder entitled to attend and vote at the meeting is also entitled to appoint a proxy to attend, speak, and vote on their behalf. A proxy need not necessarily be a shareholder of the Company, and a Form of Proxy is enclosed with the official notice for this purpose.
This AGM is a pivotal event for Waskaduwa Beach Resort PLC, setting the stage for its strategic direction and corporate governance in the upcoming fiscal year. Shareholders are encouraged to review the provided documents thoroughly and participate either in person or by proxy to exercise their voting rights.
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