Annual Report 2009/10 - Colombo Stock Exchange

Connecting Sri Lanka to Progress
Sierra Cables PLC - Annual Report 2009/10
11
Report of the Board of Directors
on the Affairs of the Company
Auditors
The accounts for the year ended 31st March 2010 have been
audited by Messrs. KPMG Ford, Rhodes, Thornton & Co, Chartered
Accountants, who offer themselves for re-appointment. In accordance
with the Companies Act No. 07 of 2007 a resolution relating to their
re-appointment and authorizing the Directors to determine their
remuneration will be proposed at the forthcoming Annual General
Meeting.
The Auditors Messrs. KPMG, Ford, Rhodes, Thornton & Co., Chartered
Accountants were paid Rs.215,000 (2008/2009 - Rs.198,000) as audit
fees by the company. In addition they were paid Rs.7,500 (2008/2009
- Rs. 65,000) by the company for audit related work.
As far as the Directors are aware the Auditors do not have any
relationship (other than that of an Auditor) with the Company other
than those disclosed above. The Auditors also do not have any
interest in the Company.
Corporate Governance
Non-Executive Independent Directors of the Company are:
Mr. R. M. S. Fernando
Dr. D. G. K. E. Weerapperuma
Audit Committee
Mr. R. M. S. Fernando (Chairman)
Dr. D. G. K. E. Weerapperuma
Remuneration Committee
Dr. D. G. K. E. Weerapperuma (Chairman)
Mr. R. M. S. Fernando
On Behalf of the Board
Capital Commitments
No material financial commitments were outstanding as at 31st March
2010.
Contingent Liabilities
There were no material contingent liabilities outstanding as at
31st March 2010.
Post Balance Sheet Events
No circumstances have arisen since the Balance Sheet date, which
require adjustments to or disclosure in the accounts.
Priyantha Perera
Director
(Sgd.)
D.S. Panditha
Director
P.R. SECRETARIAL SERVICES (PRIVATE) LIMITED
Colombo
04 June 2010