Colombo, 29 August 2026 – Mercantile Investments and Finance PLC (MIF PLC) has announced that its 63rd Annual General Meeting (AGM) will be held on Friday, September 25, 2026, at 10:00 a.m. The meeting will adopt a virtual format, with an assembly point at 236, Galle Road, Colombo 3, to facilitate the transaction of crucial company business.
The announcement, made to the Colombo Stock Exchange (CSE) on August 28, 2026, details a comprehensive agenda for the upcoming AGM, addressing the company’s financial performance, board composition, and auditor appointments for the fiscal year ended March 31, 2026.
Key Agenda Items for the 63rd AGM
Shareholders will be presented with a range of proposals for consideration and approval. The principal matters to be addressed include:
- Financial Review: To receive and adopt the Report of the Directors and the Audited Statement of Accounts for the financial year ended March 31, 2026, along with the Auditors’ Report thereon. This is a standard but critical item, providing transparency on the company’s financial health and performance over the past year.
- Director Re-elections: Three key directors are slated for re-election. Ms. A M Ondaatjie, Mr. T J Ondaatjie, and Mr. S H Jayasuriya, who retire in terms of Article 23(7) and 23(8) of the Articles of Association, will be put forward for re-election to the Board. This ensures continuity in leadership and governance.
- Auditor Re-appointment: Messrs. Ernst & Young are deemed to be re-appointed as Auditors of the Company in accordance with Section 158 of the Companies Act No. 7 of 2007. Shareholders will also be asked to authorize the Board of Directors to determine their remuneration for the ensuing year.
- Dividend Ratification: The AGM will seek to ratify the Interim Dividend of Rs. 0.165 per share, which was previously declared as the final dividend for the financial year ended March 31, 2026. This approval confirms the distribution to shareholders for their investment in the company.
- Donations Authorization: Shareholders will also be asked to authorize the Board of Directors to determine donations for the financial year 2026/27.
Participation Details for Shareholders
In adherence to modern corporate governance practices and convenience, the 63rd AGM will be conducted virtually. Mercantile Investments and Finance PLC has emphasized the importance of shareholder participation.
Shareholders entitled to attend and vote at the meeting have the option to appoint a proxy (whether a member or not) to attend and vote on their behalf. A form of proxy is enclosed with the annual report for this purpose. Shareholders unable to attend virtually are encouraged to complete and return the proxy form in due time, following the instructions provided.
For detailed information on how to participate virtually in the AGM, shareholders are advised to refer to the supplementary notice that will be issued by the company.
The company, a significant player in Sri Lanka’s non-banking financial sector, looks forward to engaging with its shareholders on these important matters, continuing its commitment to transparent governance and sustainable growth.
The notice was issued by Ms. Sonali Pethiyagoda, Company Secretary, by order of the Board, dated 30 July 2026.
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