Colombo, Sri Lanka – 31 August 2026
Mercantile Shipping Company PLC has announced its 45th Annual General Meeting (AGM), scheduled to be held on Tuesday, 22nd September 2026, at 2:00 p.m. The meeting will be conducted virtually via Microsoft Teams Audio/Video, with the company’s Registered Office at No.108, Aluthmawatha Road, Colombo 15, serving as the physical base for the proceedings.
The announcement, made today, outlines a comprehensive agenda focusing on the company’s performance for the financial year ended 31st March 2026 and crucial governance matters, including the re-appointment of several key directors and the company’s auditors.
Key Agenda Highlights for the 45th AGM
Shareholders will be presented with the Annual Report of the Board of Directors on the company’s affairs for the year ended 31st March 2026, along with the Auditor’s Report thereon, for their consideration and approval. This is a standard but vital item, allowing shareholders to review the financial health and operational performance of Mercantile Shipping PLC.
Focus on Director Re-appointments
A significant portion of the agenda is dedicated to the re-election and re-appointment of directors, underscoring the company’s approach to board continuity. Mr. C.P.P.G. Hapudeniya, who retires by rotation in terms of Article 84 of the Articles of Association, will be put forward for re-election.
Furthermore, four directors are slated for re-appointment under Section 211 of the Companies Act No. 07 of 2007, with special resolutions to address the age limit specified in Section 210 of the Act. These include:
- Captain K.J. Kriwat (86 years of age): Eligible and offers himself for re-appointment.
- Mr. M.S.P. Gunawardena (75 years of age): Eligible and offers himself for re-appointment.
- Mr. P.A. Nandasena (74 years of age): Eligible and offers himself for re-appointment.
- Mr. H.A.R.K. Wickramatileka (73 years of age): Retires and, being eligible, offers himself for re-appointment.
These resolutions highlight the company’s commitment to retaining experienced leadership, recognizing their contributions as valuable to the company’s strategic direction.
Auditors and Charitable Contributions
The AGM will also address the re-appointment of Messrs Ernst & Young as the company’s auditors for the upcoming year, with the Board of Directors to be authorized to determine their remuneration. Additionally, shareholders will consider a resolution to authorize the Directors to determine contributions to charities, reflecting the company’s corporate social responsibility initiatives.
Any other business for which due notice has been given will also be considered during the meeting.
Shareholder Participation and Procedures
As the meeting will be held virtually, Mercantile Shipping PLC has outlined specific procedures for shareholder participation. Members entitled to attend and vote are required to complete and submit a pre-registration form to ensure their attendance. A pre-registration form has been enclosed for this purpose, exclusively for shareholders of Mercantile Shipping Company PLC.
Shareholders also have the option to appoint a proxy to attend and vote on their behalf, with a proxy form provided for this purpose. The instrument for pre-registration and the proxy form must be completed and deposited at the Registered Office of the Company Secretaries, Managers & Secretaries (Private) Limited, No.10, Gothami Road, Colombo 08, or e-mailed to asirini@msl.lk, not less than forty-eight hours prior to the time appointed for holding the meeting.
This upcoming AGM is a crucial event for Mercantile Shipping PLC, setting the course for its governance and operations in the coming year and reaffirming its leadership structure.
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