NOTICE IS HEREBY GIVEN THAT the Twenty Third (23) Annual General Meeting of People’s Leasing & Finance PLC will be held on 31 July 2019 at 3.30pm at People’s Bank Staff Training College Auditorium, 11th Floor, People’s Leasing Building, No. 7, Havelock Road, Colombo 5 for the following purposes:

• To receive and consider the Annual Report of the Board of Directors together with the Financial Statements of the Company for the year ended 31 March 2019 and the Report of the Auditors thereon.
• To declare a Final Dividend of cents fifty (Rs. 0.50) per ordinary share payable as a scrip dividend, as recommended by the Board of Directors and therefore to consider and if thought fit, to pass the following resolution by way of an Ordinary Resolution:

  It is hereby resolved that a final dividend of cents fifty (Rs.0.50) be distributed in the form of scrip amounting to total sum of Rupees Seven hundred eighty nine million nine hundred and thirty one thousand two hundred and forty one (Rs.789,931,241), and the method of distribution would be as follows:

  • The scrip dividend shall be subject to dividend tax at the rate of 14%.
  • The number of ordinary shares to be issued under the scrip dividend will be 47,840,906 on the basis of Rs. 14.20 per share, which results in one (1) share being issued for each existing thirty three decimal zero two three two five five nine one four one (33.0232559141) shares held by the shareholders at the end of trading on the Colombo Stock Exchange as of the date of the Annual General Meeting.
  • The total number of shares to be issued under the scrip dividend shall be Forty Seven million eight hundred and forty thousand nine hundred and six (47,840,906) Ordinary Shares.

  It is further resolved that the shares issued under the scrip dividend be listed on the Colombo Stock Exchange subject to in principle approval of the Colombo Stock Exchange.

  It is further resolved that the remaining balance arising from the aggregation of the residual fractions (“fractional shares”) consequent to the scrip dividend be contributed to charities and other donations in line with the Corporate Social Responsibility Policy of the Company.

• To re-elect as a Director, Dr Kennedy Degaulle Gunawardana, who having been appointed to the Board in terms of Article 27(2) of the Articles of Association of the Company, retires at this Annual General Meeting.
• To re-elect as a Director, Mr Namugoda Wijesinghe Atapattu Mudiyanselage Udawatte Keerthi Kumara Edward Weerasinghe, who having been appointed to the Board in terms of Article 27(2) of the Articles of Association of the Company, retires at this Annual General Meeting.
• To authorise the Board of Directors to determine contributions to charities and other donations for the financial year ending 31 March 2020.

Auditors of the Company

According to Section 55 of the National Audit Act No. 19 of 2018, People’s Leasing & Finance PLC falls under the definition of “Auditee Entity” and the Auditor General or any person authorised by the Auditor General shall carry out the audit of the Company.

By Order of the Board,

Lakmini Kottegoda
Company Secretary
People’s Leasing & Finance PLC

21 June 2019

Notes

Any member entitled to attend and vote at this meeting is entitled to appoint a proxy to attend and vote in his/her stead. A Form of Proxy is sent herewith for this purpose.
A proxy need not be a member of the Company.

The completed form of proxy must be deposited at the office of the Registrars to the Company, SSP Corporate Services (Private) Limited at No. 101, Inner Flower Road, Colombo 3, not less than forty eight (48) hours before the time appointed for the holding of the meeting.

Colombo, on this 21 June 2019.