Colombo, Sri Lanka – 15 September 2026 – Renuka Agri Foods PLC (CSE: RAF) has announced that its 27th Annual General Meeting (AGM) will be held virtually on Thursday, 24th September 2026, at 3:00 p.m. This crucial meeting will allow shareholders to review the company’s performance, consider key resolutions, and make significant decisions regarding its future direction, including a proposed scrip dividend distribution.
Key Agenda Items for the 27th AGM
Shareholders will be presented with a comprehensive agenda for the upcoming virtual AGM. The primary items include:
- Receiving and considering the Annual Report of the Board of Directors on the company’s affairs, the Statement of Compliance, and the Financial Statements for the year ended 31st March 2026, along with the Auditors’ Report.
- Considering and passing resolutions for the declaration of a dividend as recommended by the Board of Directors.
- Re-electing directors retiring by rotation and re-appointing directors under specific provisions of the Companies Act.
- Appointing the company’s Auditors for the financial year ending 31st March 2027 and authorizing the Board to determine their remuneration.
- Authorizing the Board of Directors to determine donations for the year 2027.
Details of the Proposed Scrip Dividend
A significant resolution on the agenda is the declaration of a first and final scrip dividend of Rs. 0.10 per share. This dividend will be satisfied through the allotment and issue of 6,117,161 new fully paid ordinary shares, constituting a total sum of Rs. 67,900,490.92 on the issued ordinary shares as at 25th August 2026.
Entitled Shareholders, whose names appear on the Central Depository Systems (Pvt) Ltd. (CDS) or the Company’s Shareholders’ Register as at the end of trading on the Record Date, 28th September 2026, will be eligible for this distribution. The Record Date is set as the second (2nd) market day from and excluding the date of the AGM.
The distribution scheme entails the allotment and issue of new ordinary shares based on the share price as at the end of trading on 25th August 2026. The proposed ratio for the scrip dividend is 1 new fully paid ordinary share for every 130.58824265 existing issued and fully paid ordinary shares.
Importantly, the new shares issued under this scheme, totaling 6,117,161 ordinary shares, will rank equally (pari passu) in all respects with the existing issued and fully paid ordinary shares of Renuka Agri Foods PLC. This includes the entitlement to participate in any dividends declared after their allotment, and these new shares will be listed on the Colombo Stock Exchange (CSE).
Shareholders should also note that any residual fractions arising from this allotment will be allotted to trustees nominated by the Board, and the net sale proceeds from these fractions will be distributed to a charity or charities approved by the Board of Directors.
Board and Auditor Appointments
The AGM will address several director appointments:
- Mr. M.R. Ratnasabapathy will be proposed for re-election as a Director, retiring by rotation in terms of Article 30 (1).
- Mr. A.M. P. C.K. Abeykoon will also be proposed for re-election as a Director, retiring by rotation under Article 30 (1).
- Dr. S.R. Rajiyah and Mrs. I.R. Rajiyah are proposed for re-appointment as Directors of the Company under Section 211 of the Companies Act No. 07 of 2007, with a special declaration that the age limit of 70 years referred to in Section 210 of the Companies Act shall not apply to them.
Additionally, the Board of Directors has recommended the appointment of Messrs. KPMG Chartered Accountants as the Company’s Auditors for the financial year ending 31st March 2027, with shareholders also asked to authorize the Board to determine their remuneration.
Proxy Information for Shareholders
Members entitled to participate, speak, and vote at the AGM are encouraged to appoint a proxy holder to do so on their behalf. A proxy holder need not be a shareholder of the company. The Form of Proxy, sent along with the Annual Report, must be completed legibly and forwarded to the Company Secretary at the Registered Office, No.69, Sri Jinarathana Road, Colombo 02, not later than forty-eight (48) hours before the time appointed for the holding of the AGM.
This virtual AGM represents a pivotal moment for Renuka Agri Foods PLC and its shareholders, with the proposed scrip dividend offering a unique opportunity for capital growth within the company.
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