A Share is defined as per section 46 of the Companies Act 2001.

A share is a movable property and it confers on the holder of the shares the following:

  • The right to vote on a poll at a meeting of the company on any resolution;
  • The right to an equal share in dividends authorized by the Board;
  • The right to an equal share in the distribution of the surplus assets of the company

Shareholder(s) may hold shares in SIT and /or SIT Land Holdings Ltd.

Shareholding of SIT
An offer for subscription of 400,000,000 fully paid ordinary shares of Rs 1.00 each was made, with the opening offer in September 1995.

Shareholders of SIT are grouped under the following categories:
a) Planters
b) Employees
c) Others

Shareholding of SIT Land Holdings Ltd
An offer of 325,000,000 ordinary shares of Re 1 each allotted in order of priority was made to the Shareholders of SIT, registered as at 15 November 2001, including to the members of the public. The deal was to purchase 7,000 arpents of agricultural land (“the Land”) from Omnicane Limited previously known as MTMD.

How can I buy my shares in SIT and/or SIT Land Holdings Ltd?

To buy shares, you are requested to contact SIT (Corporate & Secretarial Services Dept) in order to obtain the “List of Sale of Shares” which comprises of contact details of all shareholders offering to sell their shares.

Upon receipt of the “List of Sale of Shares from our office, the person willing to purchase the shares, should personally contact, those shareholders offering their shares for sale. After negotiation between the two parties, the formalities are completed at SIT office. Once the transaction between both parties is completed, a share certificate is issued to the new shareholder.

The share certificate includes the following information, interalia:

  • The name of the shareholder;
  • Shareholder Reference;
  • The name of the company in which shares are held; and
  • The class and number of shares held by the shareholder.

How can I sell my shares in SIT and/or SIT Land Holdings Ltd?

You are required to download the form below and submit the duly completed form in original together with a copy of your NIC.

Your contact details will be kept in the list of those shareholders willing to offer their shares for sale, for onward transmission to those willing to purchase shares in the Company.

  1. Please be informed that once your name and contact details have been added to the “List of Sale of Shares”, the person who is willing to purchase shares ( “the buyer”) will personally contact you. After negotiation between the two parties, the formalities will be completed at the SIT Office.
  2. SIT will not act as an agent between the two parties.

What if my share certificate is lost or destroyed?

In case of lost or destroyed certificate (s), there is an indemnity form to be filled and a fee of Rs.100/- per lost Certificate to be paid to the Company.