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Report of the Directors
   
 

Directors

The Directors of the Company at 31 December 1999 were:

Mr. J.C.L. de Mel - Chairman
Appointed on 24 December 1998

Mr. R.N. Wijeratne
Appointed on 6 August 1997

Mr. Takao Sakagami
Appointed on 12 November 1997

Mr. K.A.P. Goonatilleke
Appointed on 24 December 1998

Mr. S.S. Ediriweera
Appointed on 24 December 1998

Mr. D.J. Amarasinghe
Appointed on 4 May 1999

Mr. Shuhei Anan
Appointed on 5 June 1999

Mr. Satoru Hashimoto - Chief Executive Officer
Appointed as Director on 29 October 1999 and as CEO on 20 December 1999

Mr. Norio Asam
Appointed on 20 December 1999

Mr. Hideaki Kamitsuma, Chief Executive Officer, resigned office with effect from 19 December 1999.

Mr. M. Kasahara, a Director of the Company, resigned office with effect from 5 June 1999.

Mr. R.D. Somasiri and Mr. S. Tagami, Directors of the Company resigned office with effect from 14 October 1999 and 20 July 1999 respectively.

Mr. H.N. Gunewardene was appointed as a Director of the Company on 21 February 2000.

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Directors’ Interests in Contracts and Proposed Contracts with the Company

The Directors’ interests in contracts and proposed contracts with the Company, both direct and indirect, are set out in note 26 to the financial statements. The Directors have disclosed the nature of their interests in contracts and proposed contracts with the Company at meetings of the Directors.

Directors’ Interests in Shares of the Company

Mr. R.D. Somasiri, a Director of the Company who resigned office on 14 October 1999, transferred his 17,677 shares in the Company to Mr. R.N. Wijeratne, another Director of the Company.

None of the other Directors held any shares in the Company during the year ended 31 December 1999.

Donations

During the year the Company contributed Rs. 5 million for charitable purposes.

Post Balance Sheet Events

No events have occurred since the balance sheet date which would require adjustments to, or disclosure in, the financial statements, other than those disclosed in note 28 to the financial statements.

Appointment of Auditors

A resolution to re-appoint our present Auditors, Messrs. PricewaterhouseCoopers, Chartered Accountants, who have expressed their willingness to continue, was proposed at the Annual General Meeting held on 29 March 2000.

By order of the Board

Sgd. Mrs. P.G. Dias
Secretary

20 June 2000

 

 
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