Colombo, Sri Lanka – 04 September 2026 – HVA Foods PLC (CSE: HVA), a prominent entity within Sri Lanka’s dynamic food sector, has formally announced its Sixteenth (16th) Annual General Meeting (AGM). Set to take place on Thursday, 24th September 2026, at 9:30 a.m., the crucial gathering will be held at the Sri Lanka Foundation, Lecture Hall No. 03, located at No. 100, Padanam Mawatha, Independence Square, Colombo 07. Shareholders are invited to deliberate on key financial reports, directorial appointments, and significant amendments to the company’s Articles of Association, as detailed in a recent announcement to the Colombo Stock Exchange (CSE).
Ordinary Business: Reviewing Performance and Appointments
The agenda for the AGM includes several standard but essential items, allowing shareholders to review the company’s performance and affirm key appointments. These include:
- To receive and consider the Annual Report of the Board of Directors on the affairs of the Company and its subsidiary, alongside the Statement of Accounts for the year ended 31st March 2026, accompanied by the Auditors’ Report thereon.
- The re-election of Mrs. Varuni Sonali Amunugama Fernando, who retires by rotation in accordance with Articles 88 and 89 of the Articles of Association, as a Director of the Company.
- The re-appointment of the retiring Auditors, Messrs BDO Partners, Chartered Accountants, and to authorize the Directors to determine their remuneration.
- To authorize the Directors to determine donations for the year ending 31st March 2027 and up to the date of the next Annual General Meeting.
Critical Resolutions for Shareholder Approval
Beyond the ordinary course of business, the 16th AGM holds particular significance due to two special resolutions requiring shareholder consideration and approval, touching upon corporate governance and the company’s foundational rules.
Re-confirmation of Independent Director Status
A key item under Special Business involves a resolution for public shareholders regarding the independence of a long-standing director. Shareholders will be asked to consider and, if thought fit, pass an Ordinary Resolution to affirm the independent status of Mr. Mututantrige Parakrama Devaka Cooray. This resolution seeks to confirm his independence upon him reaching the age of 70 years on 15th June 2027, a measure required by Listing Rule 9.8.3 (ix) of the CSE. The Board of Directors, having confirmed the recommendation from the Nominations and Governance Committee based on robust justification, seeks public shareholder endorsement for Mr. Cooray to continue as an “Independent” Director.
Amendment to Articles of Association
The AGM will also feature a Special Resolution to amend the Company’s Articles of Association. This proposed amendment seeks to include a new Article 121(iv) under the existing heading, ‘Alternate Directors’, which states: “The appointment of an Alternate Director shall be subject to the approval of the Board.” This change aims to formalize and strengthen the Board’s oversight and approval process for alternate director appointments, aligning with best practices in corporate governance.
Shareholder Participation and Proxy Information
HVA Foods PLC encourages all shareholders to participate actively in this important meeting. Recognizing the importance of shareholder engagement, the company has also provided clear guidelines for those unable to attend in person:
- A shareholder is entitled to appoint a Proxy to attend and vote at the meeting on his/her behalf.
- A Proxy need not necessarily be a shareholder of the Company.
- A Form of Proxy accompanies the Notice of Meeting.
- The completed Form of Proxy must be deposited at the Registered Office of the Company, No.118, Braybrooke Place, Colombo 02, Sri Lanka, by 09:30 p.m. on 22nd September 2026.
The upcoming 16th Annual General Meeting is a vital event for HVA Foods PLC, as shareholders will make decisions impacting the company’s financial direction, leadership, and fundamental governance structure. The outcomes of these resolutions will be closely watched by investors and industry observers alike.
Source: Read original document
