Pan Asia Banking Corporation PLC

• General

This Policy sets out the standards and the requirements of the Company in relation to communicating with its shareholders.

The Company believes that an effective policy for communication with shareholders enhances its strong culture of disclosure to keep the shareholders informed. This policy reflects the Board’s requirement that shareholders should be fully informed about the company and that shareholders should have access to the latest information available utilizing, where practicable, electronic communications to keep shareholders informed of relevant information from the company in a timely manner.

• Board approval

  Once this policy is approved by the Board, Board may approve updates and amendments to this policy from time to time.

The Board will approve all shareholder communications. If in any circumstances that is not practical, shareholder communications will be approved by the Chairman and Chief Executive Officer.

• Meetings

The annual general meeting and other general meetings of the Company are the primary forum for communication by the company with its shareholders and for shareholder participation.

• Notices of General Meetings

The Company will give due notice with regard to all General and Extra Ordinary General Meetings as per the Companies Act.

• Suggestions/Comments

  As far as possible to implement the suggestions made at the General Meetings and to post it on the web for share holder information.

Through the Nomination committee along with their recommendation, to consider the suitability.

The Company’s Shareholder Communication Policy is based around the following sections:

• Provision of written information
  • Informative

  The Annual Report shall contain information that assists shareholders to understand the Company’s financial results, trends, developments of importance, relationship with employees and any other relevant matters that may impact on the community and environment.

  • Available

    The report will be made easily available to shareholders and other stakeholders in a timely manner.

The Company’s Annual Report to shareholders is the major piece of written communication provided to shareholders each year. In addition to meeting all formal requirements, the Annual Report shall be:

• Electronic Communication

  The Company is conscious of the efficiency of communicating electronically rather than on paper and intends informing/ encouraging the shareholders to choose the option of receiving communication via E-mail. At the same time company is equally aware that some shareholders will prefer to receive paper-based documents. The Company will ensure that, irrespective of the medium, all shareholders will receive access to the relevant information.

  The Company’s website is an important part of the company’s Shareholder Communications policy. The Company will include on its website a range of information relevant to shareholders concerning the operation of the Company. Eg. Announcements, news releases and any other material information released to the Colombo Stock Exchange as soon as reasonably practicable after such information is released.

  • Communication via e-mail

    Shareholders may elect to receive shareholder communications from the Company via e-mail. Shareholders may register for this service by visiting www.pabcbank.com and following the instructions. Registered shareholders will receive an e-mail advice with a link to the relevant part of the Company’s website when annual reports are released, when notices of meetings and any other shareholder communications are sent and each time a relevant announcement is made by the Company and posted on the Company’s website.

    Shareholders who elect to receive communications from the Company by email will not receive communications by post. A shareholder may change their election at any time by revisiting the web and following the instructions.

    It is the responsibility of the shareholder to keep a current e-mail account and e-mail address and to notify the Company Secretary of any changes to these details.

    If the Company receives rejection advice for any shareholder e-mail, the relevant material will not be sent to the shareholder again.
    

  • Communication via post

    The Company has in the past communicated with its shareholders via post and will continue to do so where a shareholder has not elected to use an electronic form of communication

Shareholders may at any time direct questions or requests for information to Directors or management through the Company’s website or by contacting the Company Secretary .

At each General Meeting of the Company the shareholders will through the Chairperson of the General meeting, be given the opportunity to ask relevant questions.

The Chairmen of the Board sub committees will be present at the General Meetings of the Company to respond to any questions shareholders may have regarding the matters covered in the respective Board Committies.

The company’s external Auditors will attend the Annual General Meeting of the Company and will be available to answer any questions shareholders may have that are relevant to the conduct of the audit

This policy will be available for viewing by any employee of the Company on the pabcnet and by any other person on the Company’s website.

This policy is subject to regular review by the Board and will be amended (as appropriate) to reflect current best practice in communications with shareholders.