The Case Study - Seylan Bank

Seylan Bank PLC Annual Report 2009 135The board of directors confirm that they have authorised the distribution of the proposed dividend afterhaving satisfied that the Bank would meet the solvency test in terms of the provisions of the Companies ActNo. 07 of 2007 immediately after the dividend payment. The board has obtained a statement of solvency fromthe External Auditors in relation to the proposed dividend payment.The directors confirm that to the best of their knowledge and belief, all statutory payments due andpayable to all statutory and regulatory authorities as at the Balance Sheet date, have been paid by the Bankor where relevant provided for.The directors further confirm that having considered the financial position, operating conditions,regulatory and other factors and such other matters required to be addressed in the Corporate GovernanceCode, the Bank has adequate resources to continue its operations in the foreseeable future. The FinancialStatements of the Bank have accordingly been prepared on a going concern basis.The directors are of the view that they have discharged their obligations as set out in this statement.By order of the board of directors(Ms.) M.R.S. GunasekaraCompany Secretary17th February 2010