GALADARI Hotels (Lanka) PLC at the Extraordinary General Meeting (EGM) held on 18th April 2024 passed a special resolution of the shareholders approving the obtaining of a loan of approximately USD 20 million (which includes the principal facility of AED 73,400,000 and a Green Loan Tranche up to AED 14,680,000) from Mashreq Bank PSC UAE, which is a Major Transaction, to be utilized for the purpose of renovating Galadari Hotel situated at No. 64, Lotus Road, Colombo 01 . The approval is subject to obtaining the necessary regulatory approvals.