HAYLEYS PLC. Interim Report

Transcription

1 HAYLEYS PLC Interim Report Fourth Quarter Twelve months ended 31 st March, 2012

2 Income Statements 12 months to 12 months to 3 months to 3 months to Change Change Notes Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Restated Restated Continuing operations Gross turnover 13 62,465,253 54,370, ,040,632 15,866,541 1 Turnover taxes (167,247) (145,601) 15 (57,244) (45,304) 26 Net turnover 62,298,006 54,224, ,983,388 15,821,237 1 Cost of sales (48,985,972) (42,914,122) 14 (12,174,687) (13,080,723) (7) Gross profit 13,312,034 11,310, ,808,701 2,740, Other income 2,587, ,605 < ,087 40, Distribution expenses (1,883,053) (1,963,463) (4) (454,254) (715,247) (36) Administrative expenses (7,428,688) (6,690,334) 11 (2,091,591) (1,452,295) 44.0 Other expenses (218,960) (32,397) <100 (181,787) (30,332) <100 Net finance cost (1,575,507) (846,341) 86 (705,785) (123,712) <100 Share of profit from equity accounted investees 12,695 51,074 (75) 5,534 40,590 (86) Profit before tax 14 4,805,989 2,040,629 < , ,995 2 Tax expense (960,665) (903,853) 6 (232,288) (206,988) 12 Profit for the period from continuing operations 3,845,324 1,136,776 < , ,007 (6) Discontinued operations Loss for the period from discontinued operations 16 (9,042) <100 - (9,042) (100) Profit for the period 3,845,324 1,127,734 < , ,965 (3) Attributable to: Equity holders of the company 2,519, ,181 < ,400 96, Non- controlling interest 1,325, ,553 <100 98, ,222 (48) 3,845,324 1,127, , ,965 Earnings per share Basic earnings per share (Rs.) Diluted earnings per share (Rs.) Earnings per share from continuing operations Basic earnings per share (Rs.) Diluted earnings per share (Rs.) The Notes on pages 7 to 9 form an integral part of these Financial Statements. Figures in brackets indicate deductions. HAYLEYS PLC Page 1

3 Income Statements Company Company 12 months to 12 months to 3 months to 3 months to Change Change Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Continuing operations Gross turnover 176, , ,193 39,863 8 Turnover taxes (12,868) (14,727) (3,238) (2,805) 15 Net turnover 163, , ,955 37,058 8 Cost of sales (136,805) (115,637) 18 (35,265) (28,873) 22 Gross profit 26,991 31,352 (14) 4,690 8,185 (43) Group dividend 1,235, ,665 79, ,657 (67) Other income 348, , ,727 (100) Administrative expenses (165,043) (99,753) 65 (81,088) (35,344) <100 Other expenses Net finance cost (370,856) (273,174) 36 (122,910) (71,734) 71 Profit before tax 1,075, ,164 <100 (119,521) 144,491 (183) Tax expense (5,341) (1,880) <100 (1,283) (15) <100 Profit for the period 1,070, ,284 <100 (120,804) 144,476 (184) The Notes on pages 7 to 9 form an integral part of these Financial Statements. Figures in brackets indicate deductions. HAYLEYS PLC Page 2

4 Balance Sheets Company as at as at as at as at Notes Rs.'000 Rs.'000 Rs.'000 Rs.'000 Restated ASSETS Non - current assets Property, plant & equipment 30,360,487 24,445,595 3,919,284 3,837,739 Investment Property 37,156 Intangible assets 4,833,957 3,361, Investments in subsidiaries 7,840,097 5,610,679 Investments in equity accounted investees 340, ,647-1,960 Other long term investments 411, , , ,407 Employees' share trust loan 491, , , ,243 Deferred tax assets 212, ,235 Total non-current assets 36,688,286 29,663,325 12,542,227 10,234,028 Current assets Inventories 10,682,430 8,720, ,396 Amounts due from subsidiaries 295, ,526 Amounts due from equity accounted investees 3, Trade and other receivables 14,545,445 12,210,780 71,387 37,504 Short - term investments 60,986 14,853 31,632 5,195 Assets classified as held for sale 16 4,862 15,993 Income tax recoverable 147, ,917 4,644 5,501 Short - term deposits 915,067 1,378,314 Cash & cash equivalents 1,755,418 1,487,226 25,834 19,915 Total current assets 28,111,970 24,002, , ,821 Total assets 64,800,255 53,665,416 12,971,783 10,704,849 EQUITY AND LIABILITIES Stated capital 15 1,575,000 1,575,000 1,575,000 1,575,000 Capital s 6,619,929 6,951,296 3,697,729 3,697,729 Revenue s 9,964,447 7,119,698 2,238,156 1,467,864 Total equity attributable to equity holders of the company 18,159,376 15,645,994 7,510,885 6,740,593 Non controlling interest 9,582,712 8,052,425 Total Equity 27,742,088 23,698,419 7,510,885 6,740,593 Non - current liabilities Interest bearing borrowings 5,655,016 4,106,763 1,386,667 1,680,000 Deferred income 777, ,867 Deferred tax liability 795, ,907 Retirement benefit obligations 3,921,370 3,335, , ,857 Total non-current liabilities 11,149,097 8,948,979 1,719,946 1,939,857 Current liabilities Trade and other payables 9,706,541 8,084, , ,885 Current portion of interest bearing borrowings 1,501,839 2,218, , ,000 Amounts due to subsidiaries 827, ,088 Amounts due to equity accounted investees 21,155 52,563 Liabilities directly associated with assets classified as held for sale 16 2,174 2,582 Income tax payable 297, ,052 Short-term interest bearing borrowings 14,379,848 10,260,541 2,232,831 1,032,426 Total current liabilities 25,909,070 21,018,018 3,740,953 2,024,399 Total liabilities 37,058,167 29,966,997 5,460,899 3,964,256 Total equity and liabilities 64,800,255 53,665,416 12,971,783 10,704, (0) (0) 0 The Balance Sheets as at 31st March, 2012 and Statements of Income, Changes in Equity and Cash Flow for the twelve months then ended are drawn up from the unaudited financial statements of the Company, its Subsidiaries and Equity Accounted Investees and they provide the information required by the Colombo Stock Exchange. It is certified that the financial statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 Sgd. L.D.E.A De Silva Group Chief Financial Officer Signed for and on behalf of the Board Sgd. Sgd. A. M. Pandithage S.C. Ganegoda Chairman & Chief Executive Director 17th May, 2012 The notes on pages 7 to 9 form an integral part of these Financial Statements. Figures in brackets indicate deductions. HAYLEYS PLC Page 3

5 Statements of Changes in Equity For the 12 months ended 31st March, 2012 Stated Capital Attributable to equity holders of the Company Reserve on Revaluation Other Exchange fluctuation General Retained scrip issue capital earnings Non Controlling interest Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Balance as at 1 st April, As previously stated 1,575, ,588 5,546, , ,353 2,295,459 4,330,482 15,693,590 8,197,344 23,890,934 Prior Year adjustment (47,596) (47,596) (144,919) (192,515) Balance as at 1 st April, Restated 1,575, ,588 5,546, , ,353 2,295,459 4,282,886 15,645,994 8,052,425 23,698,419 Revaluation of Asset 207, , ,588 Issue of shares ,219,493 1,219,493 Adjustment due to changes in holding (671,914) 155,252 43,602 20, , ,819 (698,806) (527,987) Translation of foreign entities 114, ,323 74, ,331 Net gains /(losses) not recognised in the income statement - (671,914) 362,840 43, ,323 20, , , ,695 1,087,425 Transfers (65,895) - (229,502) 295, Share by back (199,080) (199,080) (920) (200,000) Profit for the period 2,519,732 2,519,732 1,325,592 3,845,324 Dividends (300,000) (300,000) (389,080) (689,080) Balance as at 31st March, ,575, ,674 5,843, , ,676 2,086,520 7,222,251 18,159,376 9,582,712 27,742,088 Total Total equity For the 12 months ended 31st March, Attributable to equity holders of the Company Stated Capital Reserve on Revaluation Other Exchange fluctuation General Retained Total Minority Total equity scrip issue capital earnings interest Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Balance as at 1 st April, ,575,000 1,091,774 5,542, , ,348 2,127,573 3,891,132 15,214,559 7,118,790 22,333,349 On acquisition of subsidiary , ,624 Adjustment due to changes in holding (103,186) 3,687 3,288 7,413 37,391 (51,407) 88,204 36,797 Translation of foreign entities (31,995) (12,343) (44,338) (8,474) (52,812) Net gains /(losses) not recognised in the income statement - (103,186) 3,687 3,288 (31,995) (4,930) 37,391 (95,745) 869, ,609 Transfers ,816 (172,816) - - Profit for the period 677, , ,553 1,127,734 Dividends (150,000) (150,000) (386,272) (536,272) Balance as at 31st March, Restated 1,575, ,588 5,546, , ,353 2,295,459 4,282,888 15,645,995 8,052,425 23,698,420 Company For the 12 months ended 31st March, 2012 Balance as at 1st April, ,575,000 3,684,503 13, ,087 1,085,777 6,740,593 Revaluation of Assets - Profit for the period 1,070,292 1,070,292 Dividends (300,000) (300,000) Balance as at 31st March, ,575,000 3,684,503 13, ,087 1,856,069 7,510,885 For the 12 months ended 31st March, 2011 Stated Capital Revaluation Other capital General Retained earnings Total Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Stated Capital Revaluation Other General Retained Total capital earnings Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Balance as at 1st April, ,575,000 3,684,503 13, , ,493 6,437,309 Revaluation of Assets - Profit for the period 453, ,284 Dividends (150,000) (150,000) Balance as at 31st March, ,575,000 3,684,503 13, ,087 1,085,777 6,740,593 The Notes on pages 7 to 9 form an integral part of these Financial Statements. Figures in brackets indicate deductions. HAYLEYS PLC Page 4

6 Cash Flow Statements 12 months to 12 months to 12 months to 12 months to Rs.'000 Rs.'000 Rs.'000 Rs.'000 Restated Company Cash flows from operating activities Cash generated from operations (Note A) 3,129,978 3,391,291 1,947,517 (117,582) Retiring gratuity paid (344,783) (230,433) (6,600) (10,627) Interest paid (including interest capitalised) (1,471,162) (1,209,654) (399,698) (282,265) Income taxes paid (1,067,420) (748,493) (4,484) (3,845) Net cash inflow/(outflow) from operating activities 246,613 1,202,711 1,536,735 (414,319) Cash flows from Investing activities Purchase and construction of property, plant & equipment (5,035,767) (2,886,161) (108,736) (12,270) Grants received - capital 37, ,483 Proceeds from disposal of property, plant & equipment 234, , ,470 On acqusition of right to generate hydro power / ERP system (72,170) (35,769) Proceeds from disposal of assets held for sale 1, ,673 Proceeds from disposal of investments 2,597, ,000 1,532,393 Investments in group companies and others (3,109) (13,000) (2,260,153) (2,541,282) Short term investments (18,324) (817,914) Proceeds from disposal of Short Term investments 1, ,614 Acquisition of Subsidiaries (2,690,342) (2,115,321) Proceeds from disposal of equity accounted investees 172,699 22,525 Interest received 215, ,465 28,842 9,091 Dividends received from equity accounted investees 7,800 3,120 Dividends received from non - group companies 135,613 2, , Recovery of employee share trust loan 804 1, ,842 Net payments to non controlling interest (389,080) (386,272) Net cash used in investing activities (4,804,363) (4,660,037) (1,924,555) (1,008,351) Net cash inflow/(outflow) before financing (4,557,750) (3,457,326) (387,820) (1,422,670) Cash flows from financing activities Capital payment on finance leases (39,922) (29,867) Buy back of shares (50,000) Debenture Redemption (95,000) Proceeds from long - term loans 3,541,006 3,898,728-2,400,000 Repayment of long - term loans (2,907,696) (1,663,584) (506,666) (130,000) Dividends paid (300,000) (150,000) (300,000) (150,000) Net cash inflow/(outflow) from financing activities 243,388 1,960,277 (806,666) 2,120,000 Net increase/(decrease) in cash and cash equivalents (4,314,362) (1,497,049) (1,194,486) 697,330 Cash and cash equivalents at beginning of the year/period (7,395,001) (5,897,952) (1,012,511) (1,709,842) Cash and cash equivalents at end of the year/period (Note B) (11,709,363) (7,395,001) (2,206,997) (1,012,511) 0 0 (0) - Net cash flows related to discontinued operations, shown in Note 16- Discontinued Operations HAYLEYS PLC Page 5

7 Cash Flow Statements 12 months to 12 months to 12 months to 12 months to Rs.'000 Rs.'000 Rs.'000 Rs.'000 Restated Company A. Cash generated from operations Profit before tax from continuing operations 4,805,989 2,040,629 1,075, ,164 Loss before tax from discontinued operations - (9,042) Profit before tax 4,805,989 2,031,587 1,075, ,164 Adjustments for: Net finance expense 1,575, , , ,174 Share of profits from equity accounted investees (12,695) (51,073) Depreciation on property, plant & equipment 1,621,341 1,262,884 26,829 29,764 (Gain)/loss on the disposal of property, plant & equipment 113,442 (45,164) (204) (1,174) Amortisation of Surplus on acquisition Amortisation of intangible assets 27,328 22,307 Dividend income (135,613) (2,120) (134,122) (405) Net gains/(loss) on translation of foreign currency (319,652) 196,849 Differences of exchange on translation of foreign entities (465,540) 53,760 Provision for bad and doutful debts 30, ,417 1,446 (650) Provision for unrealised profit and write-down of inventories 104, ,716 (Gain)/loss on the disposal of long-term investments (2,198,233) (Gain)/loss on the disposal of short-term investments (1,343) (133,593) (214,343) (234,495) (Gain)/loss on the disposal of subsidiary and equity accounted investees (20,975) (5,381) Provision for retiring gratuity 881, ,772 76,640 55,812 Surplus on acquisition of subsidiary (81,372) (3,761) Grants amortised (52,780) (21,415) Provision for fall in value of investment 9,919 5,872,381 5,239,045 1,202, ,190 (Increase)/decrease in trade and other receivables (2,114,194) (1,213,824) 27, (Increase)/decrease in inventories (2,031,053) (252,317) Increase/(decrease) in trade and other payables 1,402,844 (381,613) 716,401 (695,823) 3,129,978 3,391,291 1,947,517 (117,582) B. Analysis of cash and cash equivalents Cash & cash equivalents 1,755,418 1,487,226 25,834 19,915 Short - term deposits 915,067 1,378,314 2,670,485 2,865,540 25,834 19,915 Short-term interest bearing borrowings (14,379,848) (10,260,541) (2,232,831) (1,032,426) Cash and cash equivalents as restated (11,709,363) (7,395,001) (2,206,997) (1,012,511) HAYLEYS PLC Page 6

8 Notes to the Financial Statements 1 2 These Interim Financial statements which have not been audited, comply with the Sri Lanka Accounting Standards 35- Interim Financial Reporting and they also provide the information required by the Colombo Stock Exchange There has not been a significant change in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year ended Except for Note no 9 below, no circumstances have arisen since the Balance Sheet date, which would require adjustments to or disclosure in the financial statements. 4 Where necessary, comparative figures have been re - classified to conform with the current period's presentation In accordance with the Collective Agreement between the Employers Federation of Ceylon and the plantations Trade Unions, the daily basic wage was increased from Rs.285/- to Rs.380/- with effect from 1st April Accordingly, provision has been made in the financial statements of Plantation companies to represent the increased liability on Retiring Gratuity. During the second quarter Hayleys PLC sold 33.3% shareholding in Hayleys Plantation Services (Pvt) Ltd to DPL Plantations (Pvt) Ltd, a wholly owned Subsidiary of Dipped Products PLC which is a Hayleys Group Company. During the period group companies of Hayleys PLC disposed 6,874,584 ordinary shares in Hayleys PLC and the gain on disposal of Rs B is included in Other Income. 8 During the second quarter Hayleys PLC and its Group Companies acquired 51% of equity stake in Amaya Leisure PLC. Hayleys PLC acquired 12,785,861 shares (26.62%) of the Amaya Group whilst the remaining were purchased by Hayleys Group Companies. Post the acquisition Hayleys PLC made a mandatory offer to purchase the remaining shares of Amaya Leisure PLC from existing shareholers of which 6,580,353 were accepted. 9 The Board of Directors of the Hayleys MGT Knitting Mills PLC, a Subsidiary of the Group, at a Board Meeting held on 13th February 2012, recommend to the shareholders, the issue of new Ordinary Shares by way of a Right Issue. This was passed at an Extra Ordinary Meeting held on 10th April Accordingly, the Company issued 101,562,212 shares at the rate of Rs. 9/- with two new ordinary shares for every one existing ordinary share held by its shareholders. Last date of acceptance & payment was 27th April 2012 and it was fully subscribed. Hayleys PLC subscribed to Rs 826 Mn worth of shares in total. 10 During the year a physical verification of Property, Plant & Equipment was carried out at Hayleys MGT Knitting Mills PLC, a Subsidiary of the Group and assets amounting to Rs 132 Mn were written down. Cost & the accumulated depreciation of the Assets were Rs 407 Mn & Rs 275 Mn respectively. 11 Hotel Services (Ceylon) PLC a subsidiary of the Group, closed down the hotel from 1st February 2012, for a major refurbishment. As part of the refurbishment, assets with net book value amounting to Rs.150 Mn were de-recognized by the Company. Total de-recognised amount was charged to the income statement 12 The Financial Statements have been restated in accordance with Sri Lanaka Accounting Standard 10- Accounting Policies, changes in Accounting Estimates and Errors ( Revised 2005) to refelect the following adjustments. i. Alutec Anodising & Machine Tools ( Pvt) Ltd ( Alumex Group), a subsidiary of Hayleys PLC, adjusted errors in Work- In- Progress, Trade and Recieveables, Intagible Assets and Retirement Benefit obligation the net of which Rs 79 Mn was balance brought forward in the retained earnings of the Company. The relevant impact of the restatement has been taken in to the Hayleys PLC consolidated Financial Statements HAYLEYS PLC Page 7

9 Notes to the Financial Statements 13 INDUSTRY SEGMENT TURNOVER Total Intra-group External Unaudited Audited 12 months to 12 months to Rs.'000 Rs.'000 Rs.'000 Rs.'000 Continuing operations Global Markets & Manufacturing Fibre 5,420, ,893 4,577,755 4,582,981 Hand Protection 13,499,025 13,499,025 11,700,036 Purification Products 8,468,844 8,468,844 6,325,897 Textiles 5,206,976 5,206,976 6,543,378 Construction Materials 2,254,953 2,254,953 1,383,288 Agriculture & Plantations - Agriculture 8,042, ,493 7,655,846 7,406,636 Plantations 8,793, ,128 8,041,257 4,662,038 Transportation & Logistics 5,284,821 5,284,821 4,734,997 Consumer Products 4,285,285 4,285,285 3,799,838 Power and Energy - Industry Inputs 1,292,709 1,292,709 1,932,772 Power 327, , ,687 Leisure and Aviation 1,569,962 1,569, ,677 Investments & Services 233, , ,982 64,680,379 2,215,127 62,465,253 54,370, INDUSTRY SEGMENT RESULTS Continuing operations Unaudited Audited 12 months to 12 months to Rs.'000 Rs.'000 Global Markets & Manufacturing Fibre 163,829 (122,722) Hand Protection 2,065, ,677 Purification Products 806, ,009 Textiles (741,226) (678,859) Construction Materials 179,956 57,480 Agriculture & Plantations Agriculture 1,223, ,070 Plantations 526, ,390 Transportation & Logistics 595, ,144 Consumer Products 279, ,779 Power & Energy Industry Inputs 160,764 29,150 Power & Energy 125, ,148 Leisure and Aviation 94, ,195 Investments & Services 826,294 16,533 Segment results 6,307,063 2,853,994 Non - segment income/(expenses) 61,738 (18,099) Operating profit 6,368,801 2,835,895 Net Finance cost (1,575,507) (846,341) Share of profits from equity accounted investees 12,695 51,074 Profit before tax 4,805,989 2,040, STATED CAPITAL Unaudited Unaudited as at as at Rs.'000 Rs.'000 Issued and fully paid 75,000,000 (75,000, ) ordinary shares 1,575,000 1,575,000 HAYLEYS PLC Page 8

10 Notes to the Financial Statements 16 DISCONTINUED OPERATIONS Revenue and expenses to discontinued operations 12 months to 12 months to 3 months to 3 months to Change Change Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Gross turnover Turnover tax Net turnover Cost of sales - (4) (4) (4) - Gross profit Other income Distribution expenses - (977) (977) (977) Administrative expenses - (8,066) (8,066) (8,066) Net finance cost Loss before tax - (9,042) 9,042 (9,042) Tax expense Profit for the period from continuing operations - (9,042) (9,042) (9,042) - - Earnings per share - Basic earnings per share (Rs.) - (0.11) Diluted earnings per share (Rs.) - (0.11) (0.43) (0.43) Assets and Liabilities of discontinued operations Unaudited Audited as at as at Rs.'000 Rs.'000 Assets classified as held for sale Property, plant & equipment ,117 Deferred tax asset Trade and other recievebles 2,033 3,964 Income tax recoverable Inventories 1,302 1,302 Cash In hand And Bank Total assets 4,862 15,993 Liabilities directly associated with assets classified as held for sale Trade and other payables 1,962 2,370 Short-term interest bearing borrowings Loan Payable before 1 yr Total equity and liabilities 2,174 2,582 Cash Flow related to discontinued operations Unaudited Audited 12 months to 12 months to Rs.'000 Rs.'000 Net cash flows from operating activities - - Net cash flows from Investing activities - - Net cash flows from financing activities - - Net cash out flow from discontinuing operation - - HAYLEYS PLC Page 9

11 Investor Information MARKET VALUE OF SHARES The market value of an ordinary share of Hayleys PLC was as follows: Rs. Rs. Closing price on Highest price recorded for the twleve months ending Lowest price recorded for the twleve months ending Highest price recorded for the three months ending Lowest price recorded for the three months ending Market capitalisation (Rs. Mn.) 27,000 28,658 RATIOS Net assets per share Price earnings ratio (times) DIVIDEND PAYMENT First and Final dividend 2010/11 Rs 4.00 per share paid on 08th July, 2011 First & final dividend 2011/12 (Proposed) Rs per share SHARE TRADING FROM 1 ST APRIL, 2011 TO 31ST MARCH, 2012 No. of transactions 1,741 No. of shares traded 18,938,893 Value of shares traded (Rs.) 7,188,680,168 HAYLEYS PLC Page 10

12 Investor Information FIRST TWENTY SHAREHOLDERS AS AT 31st MARCH, 2012 Name of the Shareholder No.of Shares % 1 Mr.K.D.D.Perera 30,916, SBL/ Mr.K.D.D.Perera 2,900, Trustees of the D.S.Jayasundera Trust 8,698, Trustees of the Hayleys PLC - Employees Share Trust 6,855, Lanka Orix Leasing Company PLC 2,423, Employees Provident Fund 1,819, Vallibel One PLC 1,812, Hayleys Group Services (Private) Limited Number 2 Account 1,117, Mrs.M.L.Johnpulle (Deceased) 907, Mr.G.M.Spittel (Deceased) 568, Mrs.R.N.Ponnambalam 540, M.S.Jayasundera (Deceased) 500, Mrs.F.C.Phillips & Mr.R.H.S.Phillips 482, Mrs.Y.M.Spittel 465, Mr.A.C.Wikramanayake 443, Mrs.P.M.Godamunne 443, Mrs.S.D.Wickramasinghe 440, Mr.G.N.Wikramanayake 370, Royal Ceramics Lanka PLC 370, Janasakthi Insurance PLC (Shareholders) 307, Aviva NDB Insurance PLC A/C No , Total 62,687, There were no non voting shares as at 31st March, 2012 The Public Holding percentage, as defined under Colombo Stock Exchange rules, was % as at 31st March 2012 DIRECTORS SHAREHOLDINGS AS AT 31st March, 2012 Directors' holdings of ordinary shares in the Company were as follows No.of Shares Direct/ Indirect Mr.A.M.Pandithage 2,338 * Mr. K D D Perera 36,000,649 Mr.M.R.Zaheed 1,487 Mr.W.D.N.H.Perera 11 Mr.S.C.Ganegoda 2,000 Mr. K.I.M Ranasoma 751 Mr.R.P.Pathirana (Appointed on 30/06/2011) 2,000 Mr.L.T.Samarawickrama (Appointed on 30/06/2011) 43,500 Mr.M.D.S.Goonatilleke (Appointed on 30/06/2011) 2,500 * Inclusive of indirect holding through other companies in which he owns controlling interest HAYLEYS PLC Page 11

13 Corporate Information NAME OF COMPANY AUDIT COMMITTEE Hayleys PLC M D S Goonatilleke Chairman (A public limited company, W D N H Perera incorporated in Sri Lanka in 1952) Dr H Cabral, PC R P Pathirana (w.e.f 30/6/2011) COMPANY NUMBER T L F W Jayasekara (resigned w.e.f 29/6/2011) PQ 22 L K B Godamunne (resigned w.e.f 29/6/2011) STOCK EXCHANGE LISTING The ordinary shares of the Company are listed with the Colombo Stock Exchange of Sri Lanka REMUNERATION COMMITTEE Dr H Cabral, PC Chairman K D D Perera W D N H Perera M D S Goonatilleke REGISTERED OFFICE Hayley Building, P.O. Box 70, 400, Deans Road, L K B Godamunne (resigned on 29/6/2011) Colombo 10, Sri Lanka A M Senaratna (resigned w.e.f 29/6/2011) Telephone: (94-11) T L F W Jayasekara (resigned w.e.f 29/6/2011) Facsimile: (94-11) Website: NOMINATION COMMITTEE A M Pandithage Chairman DIRECTORS K D D Perera A M Pandithage Chairman & Chief Executive W D N H Perera K D D Perera - Deputy Chairman Dr H Cabral, PC M R Zaheed LT Samarawickrama J A G Anandarajah L K B Godamunne (resigned on 29/6/2011) W D N H Perera A M Senaratna (resigned w.e.f 29/6/2011) S C Ganegoda T L F W Jayasekara (resigned w.e.f 29/6/2011) H S R Kariyawasan Dr H Cabral, PC Dr K I M Ranasoma (w.e.f.01/04/2011) SECRETARIES M D S Goonatilleke (w.e.f. 30/6/2011) Hayleys Group Services (Private) Limited R P Pathirana (w.e.f 30/6/2011) 400, Deans Road, Colombo 10, Sri Lanka L T Samarawickrama (w.e.f 30/6/2011) Telephone: (94-11) L K B Godamunne (retired on 29/6/2011) Facsimile: (94-11) A M Senaratna (retired w.e.f 29/6/2011) info.sec@hayleys.com T L F W Jayasekara (retired w.e.f 29/6/2011) Please direct any queries about the GROUP MANAGEMENT COMMITTEE administration of shareholdings to the Company Secretaries A M Pandithage Chief Executive M R Zaheed J A G Anandarajah S C Ganegoda INVESTOR RELATIONS H S R Kariyawasan Please contact Corporate Affaires Unit Dr K I M Ranasoma Telephone: (94-11) L T Samarawickrama (w.e.f 30/6/2011) info@cau.hayleys.com M M M De Silva H C S Mendis G K Seneviratne S P Dissanayake R Waidyaratne J Wijesignhe P De Silva (w.e.f 10/06/2011) Dr A Sivagananathan (w.e.f 10/06/2011) Dr E Fernando (w.e.f 08/07/2011) L D E A De Silva (w.e.f 01/01/2012) HAYLEYS PLC Page 12