Colombo, Sri Lanka – 11 September 2026 – Galle Face Capital Partners PLC (CSE: GFCP) today announced an errata to its Annual Report for the financial year ended 31st March 2026. The update specifically amends the Notice of Meeting and Circular to Shareholders concerning the proposed first and final dividend for 2026, providing crucial revised details for investors.
The original Notice of Meeting and Circular to Shareholders, dated 28th August 2026, were initially published within the Company’s Annual Report on 1st September 2026. Following subsequent amendments, the updated documents have been formally released to ensure accuracy and compliance. Shareholders are advised to read these amended documents in conjunction with the full Annual Report.
Key Amendments to Dividend and AGM Notice
The revised documentation highlights significant changes, particularly regarding the declaration and satisfaction of the first and final dividend, and related resolutions for the upcoming Annual General Meeting (AGM):
- Dividend Declaration: A first and final scrip dividend of Rs. 0.70 per share has been recommended by the Board of Directors for the financial year ended 31st March 2026. This dividend is proposed to be satisfied by the allotment and issue of new ordinary shares.
- New Share Allotment: Subject to shareholder approval, the Company plans to issue 4,060,278 new ordinary shares, fully paid, constituting a total sum of Rs. 82,829,681.20. This allotment will satisfy the dividend entitlement.
- Record Date: The crucial Record Date for determining entitled shareholders for the dividend is set for 25th September 2026. This is the second market day from and excluding the date of the AGM.
- Share Ratio: The 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.
- Virtual AGM Details: The One Hundred and Sixth (106th) Annual General Meeting (AGM) of Galle Face Capital Partners PLC will be held virtually on Wednesday, 23rd September 2026, at 3:00 pm.
- Residual Fractions: Any residual share fractions arising from the allotment process will be aggregated, sold by nominated trustees, and the net proceeds distributed to a charity/charities approved by the Board of Directors.
- Ranking of New Shares: The newly issued shares, once allotted, will rank equal and pari passu in all respects with the existing issued and fully paid ordinary shares of the Company, including the right to participate in any future dividends declared after their allotment. These new shares are also slated for listing on the Colombo Stock Exchange (CSE), with “in-principle” approval already secured from the CSE.
Information for Shareholders
Shareholders whose names appear on the Central Depository Systems (Pvt) Ltd. (‘CDS’) or are registered in the Company’s Share Register by the Record Date of 25th September 2026 will be considered “Entitled Shareholders.”
Shareholders currently holding shares in scrip form (physical share certificates) are strongly urged to open a CDS account and deposit their certificates prior to the AGM date. This will facilitate the direct uploading of new shares into their CDS accounts. For those who do not open a CDS account before the AGM, the new shares will be registered in the Company’s Share Register and credited to a CDS account once opened and notified to the Registrars.
The Board of Directors has affirmed its confidence that the Company will meet the solvency test as per Section 57 of the Companies Act No. 07 of 2007 post-allotment of the dividend, a compliance confirmed by the Company’s Auditors, Messrs. Ernst & Young, Chartered Accountants.
Shareholders unable to attend the virtual AGM may appoint a proxy to participate, speak, and vote on their behalf. The completed Form of Proxy must be submitted to the Company Secretary by 3:00 pm on 21st September 2026.
These amendments are critical for all stakeholders, particularly those intending to participate in the proposed scrip dividend, and underscore Galle Face Capital Partners PLC’s commitment to transparent corporate governance.
Source: Read original document
