Colombo, 08 September 2026 – Mahaweli Coconut Plantations PLC (CSE: MCP) has announced that its Twenty-Ninth (29th) Annual General Meeting (AGM) will take place on 30th September 2026. The crucial meeting, scheduled for 10:30 AM at the Avenra Garden Hotel, No. 22, Negombo – Giriulla Road, will address a range of significant matters for shareholders, including the declaration of a final dividend and the re-appointment of several key directors.
Key Highlights of the Agenda
Shareholders will be presented with a comprehensive agenda designed to review the company’s performance and make vital decisions regarding its future governance. The core items include:
- Financial Review: The Board of Directors will present the Annual Report along with the Audited Financial Statements for the financial year ended 31st March 2026, including the Auditors’ Report thereon, for shareholder consideration and approval.
- Final Dividend Declaration: A key proposal on the agenda is the declaration of a final cash dividend of Rs. 3/- (Three Rupees only) per Ordinary Share. This recommendation from the Board of Directors, if approved by shareholders via an Ordinary Resolution, will see the Ex-Dividend (XD) date fixed as 1st October 2026, the record date as 2nd October 2026, and the dividend dispatch date slated for 20th October 2026.
Boardroom Dynamics and Director Re-appointments
The AGM will also address several important changes and re-appointments to the company’s Board of Directors, ensuring continuity and experienced leadership.
- Retirements by Rotation: Three long-serving directors, Mr. Senarath Dias Widhanaralalage Asitha Gunasekera, Mrs. Gillian Auril Mary Edwards, and Mr. Wickramarathne Vidhanalage Jude Tiller Fernando, will retire by rotation in accordance with Articles 77-79 of the Company’s Articles of Association.
- Consent for Re-election: All three retiring directors – Mr. Senarath Dias Widhanaralalage Asitha Gunasekera, Mrs. Gillian Auril Mary Edwards, and Mr. Wickramarathne Vidhanalage Jude Tiller Fernando – have consented to be re-appointed to their positions and will be put forward for re-election by the shareholders.
- Re-appointment of Directors Exceeding Age Limit: The Board proposes to re-appoint several directors who exceed the age limit of 70 years stipulated in Section 210 of the Companies Act No. 7 of 2007 (as amended). Ordinary Resolutions will be passed to declare Section 210 inapplicable for these individuals, allowing their re-appointment under Section 211 for another year. These directors include:
- Mr. Sunil Jayalath Watawala (82 years of age in 2026)
- Mr. Joseph Felix Fernandopulle (72 years of age in 2026)
- Mr. Samankumara Dias Senarath Gunesekera (70 years of age in 2026)
- Independent Director Re-appointment: Mr. Munaweera Aratchige Chithral Hilarian Munaweera, who is 71 years of age in 2026, is also proposed for re-appointment. The Board has confirmed that the age limit under Section 210 will not apply, and he will be re-appointed as an independent director, having adhered to the necessary procedure under Rule 9.8.3 (ix) of the CSE Listing Rules, as recommended by the Nominations and Governance Committee.
Other Resolutions
Further key resolutions include the re-appointment of M/s. Kreston MNS (Chartered Accountants) as the company’s auditors for the ensuing financial year, with authorization granted to the Directors to determine their remuneration. Additionally, directors will be authorized to determine the contribution to charity for the upcoming financial year.
Shareholders who are unable to attend the meeting in person are entitled to appoint a proxy. A proxy form has been provided with the official notice. For corporate bodies, a proxy indicating the name and NIC number of the nominee, signed and stamped by two directors, must be filed. Admission to the meeting will require the production of a valid identity.
The announcement underscores Mahaweli Coconut Plantations PLC’s commitment to robust corporate governance and transparent engagement with its shareholders as it continues its operational journey.
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