Colombo, 30 September 2026 – PMF Finance PLC (CSE: PMF) today announced the unanimous approval of all resolutions at its 42nd Annual General Meeting (AGM), held virtually on Wednesday, 30 September 2026. While the AGM concluded smoothly with full shareholder consensus, the company also made a crucial disclosure regarding a qualified audit opinion contained in its Independent Auditor’s Report, outlining the mandatory remedial actions and severe potential consequences if these matters are not addressed.
AGM Proceedings Conclude Successfully
In accordance with Rule 7.2 of the Colombo Stock Exchange (CSE) Listing Rules, PMF Finance PLC informed the market that all resolutions presented in the Notice convening the 42nd Annual General Meeting were passed unanimously. The virtual format facilitated shareholder participation, ensuring that key company decisions received the necessary approvals.
Critical Disclosure: Qualified Audit Opinion and Remedial Actions
A significant aspect of the announcement, made in compliance with Rule 7.5(dxii)(A)(7) of the CSE Listing Rules, pertained to the qualified audit opinion. The matters relating to this opinion were thoroughly communicated to shareholders through a Statement on the Audited Financial Statements, presented by the Chairman of the Board Audit Committee. This statement covered three vital points:
- A clear declaration that the Independent Auditor’s Report on the Audited Financial Statements of the Company contains a qualified audit opinion.
- A detailed outline of the remedial actions that have been taken and/or are proposed to be taken by PMF Finance PLC to resolve the issues giving rise to the qualified audit opinion.
- A stark warning that failure on the part of the Company to resolve these matters, in the manner specified in the Listing Rules, within a period of fifteen (15) months from the date of transfer of its securities to the Watch List, will result in the suspension of trading of the Company’s securities. Furthermore, continued failure to resolve such matters will ultimately lead to the subsequent delisting of the securities in terms of Section 14 of the Listing Rules.
Implications for Investors and Future Outlook
The disclosure of a qualified audit opinion is a significant event for any listed entity, signaling concerns regarding the company’s financial reporting or internal controls. PMF Finance PLC’s transparent communication of the problem, its proposed solutions, and the potential ramifications under CSE Listing Rules underscores the seriousness with which the Board is treating this issue.
Shareholders and potential investors will be closely monitoring the company’s progress in implementing the remedial actions within the stipulated 15-month timeframe. The company’s ability to successfully address the root causes of the qualified audit opinion will be crucial in safeguarding its listing status on the Colombo Stock Exchange and maintaining investor confidence.
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