Colombo, Sri Lanka – 11 September 2026 – Galle Face Capital Partners PLC (GFCP) has announced an errata to its previously published Notice of Meeting and Circular to Shareholders concerning the first and final dividend for the financial year 2026. The company issued the amended documents on 10th September 2026, superseding the versions initially published on 1st September 2026 within the Annual Report for the financial year ended 31st March 2026.
The revised documents provide crucial clarifications and updates for shareholders ahead of the company’s One Hundred and Sixth (106th) Annual General Meeting (AGM).
Key Amendments to Dividend Declaration
The primary focus of the errata relates to the proposed first and final scrip dividend for 2026. The Board of Directors has recommended a scrip dividend of Rs. 0.70 per share, which will be satisfied by the allotment and issue of new ordinary shares.
- Dividend Value: A first and final scrip dividend of Rs. 0.70 per share.
- Settlement Method: To be satisfied by the allotment and issue of 4,060,278 new fully paid ordinary shares.
- Total Value: The total sum allocated for the scrip dividend is Rs. 82,829,681.20.
- Record Date: Entitled Shareholders are those whose names appear on the Central Depository Systems (Pvt) Ltd. (CDS) or the Company’s Share Register as at the end of trading on 25th September 2026.
- Share Ratio: New ordinary shares will be issued at a ratio of 1 new fully paid ordinary share for every 29.14286066 existing issued and fully paid ordinary shares. This ratio is calculated based on the market value (closing price) of ordinary shares as at 25th August 2026.
- Residual Fractions: Any residual share fractions arising from the allotment will be aggregated and allotted to trustees. These shares will then be sold, and the net proceeds will be distributed to a charity or charities approved by the Board of Directors.
- Ranking: The newly issued shares will rank equally (pari passu) in all respects with existing issued and fully paid ordinary shares, including the right to participate in any dividends declared after their allotment date.
- Listing: Galle Face Capital Partners PLC has obtained in-principle approval from the Colombo Stock Exchange (CSE) for the listing of these new ordinary voting shares.
Annual General Meeting Details Confirmed
The virtual Annual General Meeting (AGM) remains scheduled for Wednesday, 23rd September 2026, at 3:00 PM. Shareholders are encouraged to refer to the amended Notice of Meeting for the complete agenda. Key resolutions to be considered include:
- Receiving and considering the Annual Report and Financial Statements for the year ended 31st March 2026.
- Declaration of the aforementioned first and final scrip dividend for 2026.
- Re-election of Mr. K. Liyanagamage as a Director.
- Re-appointment of Messrs. Ernst & Young, Chartered Accountants, as Auditors and authorizing the Board to determine their remuneration.
- Authorization for the Board to determine contributions to charity for 2026.
Information for Shareholders
Shareholders who wish to appoint a proxy to participate, speak, and vote on their behalf at the AGM must ensure the completed Form of Proxy is deposited at the company’s registered office (Renuka House, No. 69, Sri Jinarathana Road, Colombo 02) no later than 3:00 PM on 21st September 2026. The proxy form is included with the amended documents.
The company also reminds shareholders holding shares in scrip form (share certificates) to open a CDS account and deposit their existing share certificates prior to the AGM date. This will facilitate the direct upload of new ordinary shares, to which they are entitled, into their CDS accounts upon allotment. Direct uploads for written requests to deposit such shares will be processed on a weekly basis.
The Board of Directors has confirmed that the allotment and issue of new shares comply with the Company’s Articles of Association, the CSE Listing Rules, and the provisions of the Companies Act No. 07 of 2007, and that the company will satisfy the solvency test immediately post-allotment of the dividend.
All shareholders are strongly advised to carefully review the amended Notice of Meeting and Circular to Shareholders for the comprehensive details and implications of these updates.
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