Colombo, Sri Lanka – 24 September 2026 – Tea Smallholder Factories PLC (CSE: TSML) has announced significant changes to the composition of its Board Committees, effective 22nd September 2026. The restructuring follows the re-appointment and designation of Mr. T. Dharmarajah as an Independent Non-Executive Director at the company’s Annual General Meeting (AGM) held on 22nd September 2026.
The decision by shareholders and public shareholders to re-elect Mr. Dharmarajah has led to his immediate reinstatement across all key sub-committees of the Board. This move, advised by the Nominations & Governance Committee and subsequently approved by the Board on 23rd September 2026, aligns with the company’s commitment to robust corporate governance and compliance with Section 9.10.3 of the Colombo Stock Exchange (CSE) Listing Rules.
Strategic Reconfiguration of Key Committees
The reinstatement of Mr. T. Dharmarajah, a seasoned Independent Director, has prompted a strategic reshuffling within four crucial Board committees. His expertise will now bolster oversight and guidance in several critical areas of the company’s operations.
Board Audit Committee
Mr. T. Dharmarajah will now chair the Board Audit Committee, bringing his independent oversight to the forefront of financial reporting and internal controls. The committee’s new composition is as follows:
- Mr. T. Dharmarajah, Committee Chairman, Independent Director
- Mrs. A. Goonetilleke, Member, Independent Director
- Mr. U. H. E. Silva, Member, Independent Director
- Mr. K. Sivanesan, Member, Independent Director
Related Party Transactions Review Committee
Similarly, Mr. Dharmarajah will also take on the chairmanship of the Related Party Transactions Review Committee, ensuring stringent adherence to regulatory guidelines and transparent dealings. The committee now comprises:
- Mr. T. Dharmarajah, Committee Chairman, Independent Director
- Mrs. A. Goonetilleke, Member, Independent Director
- Mr. U. H. E. Silva, Member, Independent Director
- Mr. K. Sivanesan, Member, Independent Director
Nomination and Governance Committee
The Nomination and Governance Committee, responsible for board appointments and governance frameworks, will see Mr. Dharmarajah join as a member. Mrs. A. Goonetilleke continues to lead this committee. The updated structure is:
- Mrs. A. Goonetilleke, Committee Chairman, Independent Director
- Mr. U. H. E. Silva, Member, Independent Director
- Mr. T. Dharmarajah, Member, Independent Director
- Mr. K. Sivanesan, Member, Independent Director
- Dr. P. S. H. Uluwaduge, Member, Non-Executive Director
HR & Compensation Committee
Mr. Dharmarajah will also serve as a member of the HR & Compensation Committee, contributing to the strategic direction of human resources and executive remuneration. Mrs. A. Goonetilleke retains her role as Chairman. The full committee includes:
- Mrs. A. Goonetilleke, Committee Chairman, Independent Director
- Mr. T. Dharmarajah, Member, Independent Director
- Mr. E. Silva, Member, Independent Director
- Mr. K. Sivanesan, Member, Independent Director
- Dr. P. S. H. Uluwaduge, Member, Non-Executive Director
This re-composition underscores Tea Smallholder Factories PLC’s commitment to strengthening its corporate governance structure and ensuring that its board committees are equipped with experienced and independent leadership. The announcement, made by LOLC Corporate Services (Private) Limited, Secretaries for Tea Smallholder Factories PLC, on 23rd September 2026, officially communicates these pivotal changes to the Colombo Stock Exchange and the wider public.
Source: Read original document
