25th April 2025.
Mr. Renuka Wijayawardhane; Chief Regulatory Officer, Colombo Stock Exchange, 04 - 01, West Tower, World Trade Centre, Echelon Square, Colombo 1.Dear Sir,
RE-DESIGNATION OF DIRECTOR CHANGING THE NATURE OF DIRECTORSHIP FROM INDEPENDENT NON-EXECUTIVE NATURE TO NON - INDEPENDENT NON-EXECUTIVE NATURE
Further to the announcement made on 12th June 2024 regarding the re-designation of Mr. H.M. Udeshi from a Non-Independent Non-Executive Director to an Independent Non-Executive Director, effective from 29th May 2024, pursuant to Section 9.8.3 of the Colombo Stock Exchange (CSE) Listing Rules:
Please note that Mr. Udeshi's status as an Independent Director expired on 31st December 2024, in accordance with Section 9.8.3 (iv) of the CSE Listing Rules, as he holds more than 10% of the voting rights of the Company. Consequently, he no longer meets the criteria for independence.
In view of this, we confirm that the Board of Directors, via Circular Resolution dated 1st January 2025, resolved to re-designate Mr. H.M. Udeshi as a Non-Independent Non-Executive Director, effective from the same date.
Accordingly, Mr. H.M. Udeshi, who was previously serving as an Independent Non-Executive Director, has been re-designated as a Non-Independent Non-Executive Director with effect from 1st January 2025.
This announcement is made in terms of section 9.10.3.(i) of the CSE Listing Rules. The delay in notifying the CSE of the above change was due to an oversight.
By Order of the Board of WindForce PLC, Nexia Corporate Consultants (Private) Limited,
Secretaries to WindForce PLC