Sampath Bank successfully hosts fully fledged virtual AGM

Moving away from convention, Sampath Bank PLC successfully hosted its 34th Annual General Meeting on a virtual platform, in a bid to ensure the health and safety of its shareholders while also staying in line with national efforts to prevent the spread of COVID-19. 

The bank’s AGM was livestreamed smoothly from its Head Office to shareholders without any disruptions, via the Zoom video communications app, the bank said in a media release. 

The bank also leveraged technology to allow shareholders to interact with the proceedings and vote remotely via eBallot, a leading US-based online voting platform. The solution delivers instant results with secure access and tracked delivery, while maintaining complete confidentiality. This was very likely the first instance of this technology being used on this scale at an AGM in Sri Lanka, it said. 

At the meeting, the bank announced that it will pay a final dividend of Rs 11.75 per share, for the financial year 2019, a distribution of Rs. 4.5 billion. 

Furthermore, Dhara Wijayatilake was appointed as Deputy Chairperson of Sampath Bank by the Bank’s Board of Directors, with the appointment coming into effect subsequent to the conclusion of the AGM.

Expressing his views on holding the AGM online Nanda Fernando, the Managing Director of Sampath Bank PLC stated, “Innovation has always been at the very core of our operations and online solutions are fast becoming the new norm in today’s technologically advanced world. We are proud that we were able to fulfill our obligations to our valued shareholders in a manner that facilitated their participation without compromising their safety. As we collectively continue our fight against the spread of COVID-19, we urge all industries to keep innovating and discovering new methods of operating that ensures both success and safety.”

Picture shows Professor Malik Ranasinghe, Chairman, Sampath Bank PLC (centre) conducting the AGM.