1

GALADARI Hotels (Lanka) PLC

Annual Report - 2021

Contents

Corporate Information

2

Notice of Meeting

3

Chairman's Message

4

Management Discussion and Analysis

5-6

Board of Directors

7-8

Statement of Directors' Responsibilities

8

Annual Report of the Board of Directors

9-10

Corporate Governance

11-14

Report of the Audit Committee

15

Report of the Remuneration Committee

16

Report of the Related Party Transactions Review

Committee

16

Independent Auditor's Report

17-19

Statement of Financial Position

20

Statement of Profit or Loss

21

Statement of Comprehensive Income

22

Statement of Changes in Equity

23

Statement of Cash Flows

24

Notes to the Financial Statements

25-50

Information to Shareholders

51-52

Five Year Summary

53

Notes

54

Form of Proxy

55-56

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GALADARI Hotels (Lanka) PLC

Annual Report - 2021

Corporate Information

COMPANY NAME

:

Galadari Hotels (Lanka) PLC

COMPANY REGISTRATION NO.

:

PQ 137

LEGAL STATUS

:

A quoted Public Company with limited liability incorporated in Sri Lanka

BOARD OF DIRECTORS

:

Mr. M A I Galadari - Chairman

Mr. S A I H Galadari

Mr. I A I Galadari

Mr. M Y Kazi Meeran

Mr. L R De Silva

Dr. J A S Felix

Mr. V Radhakrishnan

AUDIT COMMITTEE

:

Mr. M Y Kazi Meeran - Chairman

Dr. J A S Felix

Mr. L R De Silva

REMUNERATION COMMITTEE

:

Mr. M A I Galadari - Chairman

Dr. J A S Felix

Mr. L R De Silva

RELATED PARTY TRANSACTIONS

:

Mr. L R De Silva - Chairman

REVIEW COMMITTEE

Mr. M Y Kazi Meeran

Dr. J A S Felix

SECRETARIES & REGISTRARS

:

Jacey & Company

No.9/5, Thambiah Avenue,

Colombo 07

Tel: 4335159 - 62

REGISTERED OFFICE

:

No.9/5, Thambiah Avenue,

Colombo 07

Tel: 4335159 - 62

AUDITORS

:

M/s Ernst & Young,

Chartered Accountants

201, De Saram Place, Colombo 10

LAWYERS

:

Tiruchelvam Associates

No.116/10, Rosmead Place, Colombo 07

BANKERS

:

Hatton National Bank

City Office, No. 16, Janadhipathi Mawatha,

Colombo 1

Hongkong & Shanghai Banking Corporation

24, Sir Baron Jayatilaka Mawatha, Colombo 1

Bank of Ceylon - Corporate Branch Head Office

No.4, Bank of Ceylon Mawatha, Colombo 01

Commercial Bank of Ceylon PLC

World Trade Centre Branch

L03-Wt-01, Third Floor, West Tower

World Trade Centre, Colombo 01

Sampath Bank, Fort Branch,

No. 98, Chatham street,

Colombo 01.

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GALADARI Hotels (Lanka) PLC

Annual Report - 2021

Notice of Meeting

NOTICE IS HEREBY GIVEN THAT the 41st Annual General Meeting of GALADARI HOTELS (LANKA) PLC will be held as a Virtual Meeting emanating from the "Board Room" of Galadari Hotels (Lanka) PLC, No. 64, Lotus Road, Colombo 01, on 29th June at 3.30 p.m for the following purposes:

Agenda

  1. To receive and consider the Audited Financial Statements for the Year Ended 31st December, 2021 together with the Reports of the Directors' and Auditors' thereon.
  2. To re-elect Mr. Lalith Rukman De Silva, Director, who retires by rotation in terms of Article 87 of the Articles of Association of the
    Company.
  3. To re-elect Dr. John Anthony Shivaji Felix, Director, who retires by rotation in terms of Article 87 of the Articles of Association of the Company.
  4. To re-appoint the Auditors Messrs. Ernst & Young, Chartered Accountants, to hold office until the conclusion of the next Annual
    General Meeting and to authorise the Directors to determine their remuneration.

BY ORDER OF THE BOARD

JACEY & COMPANY

SECRETARIES

2nd June 2022 Colombo

NOTES:

  1. A shareholder is entitled to appoint a Proxy to attend and vote instead of himself and a Proxy need not be a shareholder of the Company.
  2. A Form of Proxy is enclosed for this purpose. The duly completed forms of proxy should be posted or delivered to the Registered
    Office of the Company at 9/5, Thambiah Avenue, Colombo 07 or forwarded by email to AGM@galadari.lk or by fax on 0114790600 in order to enable the Company to receive the same not less than forty eight (48) hours prior to the time appointed for the holding of the AGM.
  3. As mentioned in the Circular to the Shareholders dated 2nd June 2022, the 41st Annual General Meeting will be held as a Virtual meeting. Instructions given in the Circular to Shareholders must be followed to join the meeting virtually.

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Galadari Hotels (Lanka) plc published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 11:41:09 UTC.