Colombo, Sri Lanka – 11 September 2026 – CEYLON LAND & EQUITY PLC (CSE: CLEQ) today announced the publication of an Errata to its Annual Report for the financial year ended 31st March 2026. This crucial update includes an amended Notice of the Annual General Meeting (AGM) and a revised Circular to Shareholders concerning the first and final dividend for 2026, offering vital clarity for investors and stakeholders.
The company informed the Colombo Stock Exchange (CSE) that amendments were made subsequent to the initial publication of the Notice of Meeting and Circular to Shareholders, both originally dated 28th August 2026 and included in the Annual Report released on 1st September 2026. The newly issued amended documents supersede the previous versions and are to be read in conjunction with the Annual Report.
Amended AGM Details and Scrip Dividend Declaration
The Sixty Ninth (69th) Annual General Meeting of CEYLON LAND & EQUITY PLC is now scheduled to be held virtually on Wednesday, 23rd September 2026, at 03:30 p.m. A key item on the agenda for shareholder approval is the declaration of a first and final Scrip dividend.
The Board of Directors has recommended a scrip dividend of Rs. 0.043 per share, to be satisfied by the allotment and issue of new ordinary shares. This distribution will involve 4,553,230 new fully paid ordinary shares, constituting a total sum of Rs. 39,613,109.34. The allocation will be on the basis of 1 new fully paid ordinary share for every 202.32562400 existing issued and fully paid ordinary shares, calculated based on the market value of ordinary shares as at the end of trading on 25th August 2026.
The entitlement for this dividend is extended to shareholders whose names are registered in the Company’s Shareholders’ Register or appear on the Central Depository Systems (Pvt) Ltd. (‘CDS’) as at the end of trading on the Record Date, which is 25th September 2026. This date falls on the second market day from and excluding the date of the AGM.
CEYLON LAND & EQUITY PLC has confirmed that the Board of Directors is satisfied that the company will meet the solvency test as per Section 57 of the Companies Act No. 07 of 2007, supported by a Certificate of Solvency from Messrs. Ernst & Young, Chartered Accountants. Furthermore, the company has received ‘in principle’ approval from the CSE for the listing of these new ordinary voting shares.
Other Key Resolutions for the AGM
In addition to the scrip dividend, shareholders will consider several other important resolutions at the forthcoming AGM:
- To receive and consider the Annual Report, statement of compliance, and Financial Statements for the year ended 31st March 2026, along with the Auditors’ Report.
- To re-elect Mr. T.A.P. Peiris as a Director, who retires by rotation.
- To re-appoint Mr. K. G. Vairavanathan as a Director, following his appointment on 27th January 2026.
- To re-appoint Messrs. Ernst & Young, Chartered Accountants, as the Company’s Auditors for the financial year ending 31st March 2027, and to authorize the Board to determine their remuneration.
- To authorize the Board of Directors to determine donations for the ensuing year.
Shareholder Guidance for Dividend and Proxy
Shareholders expecting to receive the scrip dividend are advised that new shares will be uploaded directly into their CDS accounts within five market days from and excluding the Record Date. Shareholders holding shares in scrip form are strongly encouraged to open a CDS account prior to the AGM to facilitate the direct deposit of their new ordinary shares.
For shareholders unable to attend the virtual AGM, a Form of Proxy is provided with the amended report. Proxies must be completed legibly and submitted to the Company Secretary no later than forty-eight (48) hours before the time appointed for the holding of the AGM.
This comprehensive errata ensures that all shareholders have the most accurate and up-to-date information regarding the company’s financial performance, dividend distribution, and forthcoming AGM. Investors are encouraged to review the full amended document for complete details.
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