Annual Report of Laxpana Batteries

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Laxapana Batteries PLC

Annual Report
2010 / 2011

Our Mission
“Our mission is to provide best value energy generating products” To our shareholders - We will continuously improve our manufacturing capabilities and technology as part of our growth strategy and thereby improve profits and return on investment. To our customers - We will provide high quality products that will consistently meet customer expectations. To our employees - We will create a work environment where employees will be treated with dignity & respect and made active participants in the development of the organization. To our suppliers - We will work towards building long term relationships and commitment for mutual growth. To our society - We will commit ourselves to ensure that our present and future manufacturing systems and services will be so designed to create the least environmental impact. We will always promote good governance and ethical practices in business and honour the rights of all racial, religious and gender sections in our society.

LAXAPANA BATTERIES PLC / Annual Report 2010-2011


Our Mission Notice of Meeting Chairman’s Review Company Profile Board of Directors Annual Report of the Board of Directors Audit Committee Report Independent Auditors’ Report to the Shareholders Income Statement Balance Sheet Statement of Changes In Equity Cash Flow Statement Notes to the Financial Statements Share Information Ten Year Financial Summary Notes Form of Proxy Corporate Information Inner Front Cover 2 3 4 5 6 9 10 11 12 13 14 15 31 33 34 35 Inner Back Cover


LAXAPANA BATTERIES PLC / Annual Report 2010-2011

Notice of Meeting
Notice is hereby given that the Fifty Fifth Annual General Meeting of Laxapana Batteries PLC will be held at the Grand Oriental Hotel, No. 2, York Street, Colombo 01, on Tuesday, 27th September 2011 at 10.00 a.m. for the following purposes, namely: 1. To receive and consider the Annual Report of the Board of Directors and the Statement of Accounts for the year ended 31st March 2011, with the Report of the Auditors thereon. 2. To re-elect as a Director, Mr. S. Rajaratnam who retires in accordance with Articles 84 and 85 of the Articles of Association. 3. To reappoint Mr. R.N. Bopearatchy who has attained the age of seventy years as a Director. A special Notice has been received from a shareholder of the intention to pass a Resolution which is set out below in relation to his reappointment (see Note 4 below). 4. To reappoint as Auditors, Messrs KPMG Ford, Rhodes, Thornton & Co. and to authorize the Directors to determine their remuneration.

By Order of the Board CORPORATE MANAGERS & SECRETARIES (PRIVATE) LTD. Secretaries Colombo 11th August 2011 Notes: 1. Any member of the Company who is entitled to attend and vote may appoint a proxy to attend and vote instead of him or her. A proxy need not be a member of the Company. 2. A Form of Proxy for the Meeting is enclosed with this Report. 3. The instrument appointing a proxy should reach the Registered Office of the Company’s Secretaries, Corporate Managers & Secretaries (Private) Limited, No. 8-5/2, Leyden Bastian Road, York Arcade Building, Colombo 01, not less than 48 hours before the time appointed for the holding of the meeting. 4. A Special Notice has been received by the Company from a shareholder giving notice of the intention to move the following Resolution as an Ordinary Resolution at the Annual General Meeting: “Resolved – That Mr. R.N. Bopearatchy who is seventy years of age be and is hereby reappointed a Director of the Company and it is further specially declared that the age limit of seventy years referred to in Section 210 of the Companies Act No. 7 of 2007 shall not apply to the said Director, Mr. R.N. Bopearatchy.

LAXAPANA BATTERIES PLC / Annual Report 2010-2011


Chairman’s Review
It gives me much pleasure to present to you on behalf of the Board of Directors the Annual Report and the Audited Accounts for the...
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