Colombo, 28 August 2026 – Cargo Boat Development Company PLC (PQ222), a prominent entity on the Colombo Stock Exchange (CSE), has announced that its 46th Annual General Meeting (AGM) will be held on Tuesday, 22 September 2026, at 11:00 a.m. The meeting is scheduled to take place virtually, utilizing a digital platform to facilitate shareholder participation.
The announcement, made today, outlines a comprehensive agenda focusing on the company’s financial performance, corporate governance, and key leadership appointments, signaling an important event for shareholders and market watchers.
Key Agendas for the 46th AGM
Shareholders will be invited to consider and vote on several crucial resolutions, reflecting the company’s operational year and future directives. The agenda includes:
- Financial Review: To receive and adopt the Audited Accounts for the financial year ended 31st March 2026, along with the accompanying Reports of the Directors and Auditors. This forms the cornerstone of the meeting, providing transparency on the company’s performance.
- Dividend Declaration: A proposal to declare a dividend, a significant point of interest for investors awaiting returns on their investment.
- Director Authorisation: To authorise the Board of Directors to determine and make donations, a standard practice allowing the company flexibility in its philanthropic or corporate social responsibility initiatives.
- Director Re-appointments (Over 70): Crucially, the meeting will address the re-appointment of three long-serving directors, Mr. R. B. Thambiayah, Ms. N. A. Thambiayah, and Mr. R. S. Tissanayagam, all of whom are over 70 years of age. In compliance with Sections 210 and 211 of the Companies Act No. 7 of 2007, ordinary resolutions will be proposed for each, declaring that the age limit shall not apply to their continued service. This underscores the company’s reliance on their experience and expertise.
- Director Re-election by Rotation: To re-elect Mr. D. C. Fernando, who retires by rotation in terms of the company’s Articles of Association.
- Auditor Re-appointment: The re-appointment of M/s BDO Partners, Chartered Accountants, as the company’s Auditors, with authorisation for the Directors to determine their remuneration.
Virtual Participation and Proxy Information
In line with modern corporate practices and ensuring accessibility for all shareholders, the AGM will be conducted as a virtual meeting. Shareholders are reminded that they are entitled to appoint a proxy to attend and vote on their behalf, should they be unable to participate directly. The designated proxy need not be a member of the company.
For proxy appointments to be valid, completed Form of Proxy documents must be deposited at the Registered Office of the Company, located at 328, Galle Road, Colombo 3, no later than forty-eight (48) hours before the scheduled time of the meeting.
This upcoming AGM is a vital event for Cargo Boat Development Company PLC, outlining its recent performance and charting its course for the future, with significant decisions regarding its leadership and financial direction.
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