Paragon Ceylon : Annual Report 2019/20

Paragon Ceylon PLC

Annual Report

2020

Noce of Meeng

NOTICE IS HEREBY GIVEN that the Sixty Third Annual General Meeng of Paragon Ceylon PLC will be held at the Commiee Room, NCC, 29 Maitland Place Colombo 7 on 06th May 2022 at 10.30 am and the business to be brought before the Meeng will be:

• 1. To receive and consider the Annual Report of the Board of Directors on the affairs of the Company and the Financial Statements for the year ended 31st March 2020 and the Report of the Auditors thereon.

• 2. To pass the ordinary resoluon set out below to appoint Mr. L C G Ratnanather who is 87 years of age, as a Director of the Company;

  "IT IS HEREBY RESOLVED THAT the age limit spulated in Secon 210 of the Companies Act, No.07 of 2007 shall not apply to Mr. L C G Ratnanather who is 87 years of age, and that he be and is hereby appointed a Director of the Company in terms of Secon 211 of the Companies Act No. 07 of 2007"

• 3. To pass the ordinary resoluon set out below to appoint J B M Ponrajah who is 72 years of age, as a Director of the Company;

  "IT IS HEREBY RESOLVED THAT the age limit spulated in Secon 210 of the Companies Act, No.07 of 2007 shall not apply to Mr. J B M Ponrajah who is 72 years of age and that he be and is hereby appointed a Director of the Company in terms of Secon 211 of the Companies Act No. 07 of 2007"

• 4. To re-elect Mr. M M Marzook who reres by rotaon in terms of Arcles 84 of the Arcles of Associaon, as a Director of the Company.

• 5. To authorise the Directors to determine donaons for the ensuing year.

• 6. To appoint Messrs.Pope & Co., Chartered Accountants, as the Auditors of the Company in place of Messrs SJMS Associates and to authorize the Directors to determine their remuneraon.

BY ORDER OF THE BOARD

PARAGON CEYLON PLC

P W CORPORATE SECRETARIAL (PVT) LTD

DIRECTOR/SECRETARIES

25th March 2022. Colombo.

Note:

Note: A member entled to aend and vote at the meeng is entled to appoint a Proxy to aend and vote instead of him/her. A Proxy need not be a member of the Company. A Form of Proxy is enclosed for this purpose. The completed form of Proxy should be deposited at the Registered Office of the Company, not less than forty-eight (48) hours before the me fixed for the commencement of the Meeng.

Corporate Informaon

Directors

L. I. Ratnasabapathy (Chairman/Managing Director)

L. C. G. Ratnanather

J. P. M. Ponrajah

P. S. R. Casie Chiy

M. M. Marzook

A. M. De Alwis

Secretaries

P W Corporate Secretarial (Pvt) Ltd

Head of Finance

M. S. A. Kariapper

Auditors

SJMS Associates Chartered Accountants

Tax consultants

Nanayakkara & Co.

Chartered Accountants

Bankers

Commercial Bank of Ceylon Ltd.

Lawyers

Nithi Murugesu Aorney-at-Law

Directors' Profile

L. I. Ratnasabapathy - Execuve Chairman and Managing Director

Mr. L. I. Ratnasabapathy is a CIMA finalist with broad experience and exposure to finance, informaon technology, systems design and implementaon, project management, and commercial offset prinng. He serves as the Execuve Chairman and Managing Director for Ceylon Printers PLC, Office Equipment PLC, Paragon (Ceylon) PLC, Kalamazoo Industries (Pvt) Ltd and Internaonal Computers (Ceylon) Ltd.

L. C. G. Ratnanather - Director

Mr. L. C. G Ratnanather has been with the Company since 1965 and counts 55 years of senior management experience. He acts as the Group Finance Director and oversees the finance funcon. He is a director of Ceylon Printers PLC, Paragon Ceylon PLC, Kalamazoo Industries (Pvt) Ltd, Office Equipment PLC and Internaonal Computers (Ceylon) Ltd. Mr. Ratnanather is a finalist at the Chartered Instute of Accountants Sri Lanka.

J. B. M. Ponrajah - Execuve Director

Mr. J. B. M. Ponrajah is responsible for the overall operaons of Paragon Ceylon PLC. He is responsible for strategy implementaon and achievement of the Company goals. Mr. J. B. M. Ponrajah has been working with the Company since 1972 and counts 47 years of experience in senior management, sales and markeng.

P. S. R. Casie Chiy - Independent Non-Execuve Director

Mr. R. Casie Chiy joined the board as an independent non execuve director in 2009. He is an independent non execuve director of Ceylon Printers PLC, Paragon Ceylon PLC and Office Equipment PLC. Mr. Casie Chiy who holds a Masters in Economics from the University of Colombo is also a Fellow of the Associaon of Chartered Cerfied Accountants (ACCA), UK, an Associate Member of the Chartered Instute of Management Accounts (CIMA), UK, and a Chartered Financial Analyst, USA.

M. M. Marzook - Independent Non-Execuve Director

Mr. M. M. Marzook joined the board as an independent non execuve director in 2013. He is a Fellow Member of the Instute of Chartered Accountants of Sri Lanka (CA Sri Lanka), an Associate Member of the Chartered Instute of Management Accountants (CIMA) and holds a Master of Business Administraon from the University of Sri Jayawardenapura. He is currently the Head of Special Projects - Finance and Management Informaon Systems, at Hayleys Advans Limited. He counts for over 30 years' experience in Finance, Consulng and Financial Advisory.

A. M. De Alwis - Execuve Director

Ms. A. M. De Alwis Obtained a Bachelor of Arts in Economics in 1994 from Haverford College in Pennsylvania and is a passed finalist of CIMA.

She started her career as a management trainee at the Colombo Stock Exchange for a period of a year from September 1994 to 1995. Thereaſter, she commenced Accounng studies and completed the exams of the Chartered Instute of Management Accountants in 1998.

While studying accountancy, she obtained work experience at BIP Advantage Sri Lanka, an adversing agency, from September 1994 to December 1995 in the Accounts department. She then served as the Accountant at DLPL (Yellow Pages) Sri Lanka from 1999 to 2000 and thereaſter for a period of a year at the Ceylon Printers Group of Companies, before rejoining the group in 2020.