Colombo, Sri Lanka – October 2, 2026 – First Capital Treasuries PLC (FCT), a prominent player in Sri Lanka’s financial market, has announced significant changes to the composition of its Board Sub-Committees. The strategic realignment, resolved by the company’s Board of Directors on September 30, 2026, and effective from October 1, 2026, underscores FCT’s ongoing commitment to robust corporate governance and transparency. The details were officially communicated to the Colombo Stock Exchange (CSE) on October 1, 2026, in compliance with Listing Rule 9.10.3.
Reconstituted Remuneration Committee
The Remuneration Committee, which plays a pivotal role in overseeing executive compensation and performance frameworks, has been reconfigured with a focus on independent oversight. The newly composed committee will be chaired by Dr. Nishan de Mel, an Independent Non-Executive Director. He will be joined by Mr. Channa de Silva, also an Independent Non-Executive Director, and Ms. Manjula Mathews, a Non-Independent Non-Executive Director.
Refined Related Party Transactions Review Committee
To further ensure transparency and fairness in transactions involving related parties, the Related Party Transactions Review Committee sees a strengthened lineup. Ms. Cilani Wijesinghe, an Independent Non-Executive Director, assumes the role of Chairperson for this crucial committee. Serving alongside her will be Mr. Channa de Silva and Mr. Niran Mahawatte, both Independent Non-Executive Directors, enhancing the committee’s independent scrutiny.
New Leadership for Nominations and Governance Committee
The Nominations and Governance Committee, responsible for guiding board appointments and upholding the highest standards of corporate governance, has also been reconstituted. Mr. Dudeepa Ratwattte, an Independent Non-Executive Director, has been appointed as the Chairman of this committee. The other members include Mr. Channa de Silva, an Independent Non-Executive Director, and Ms. Manjula Mathews, a Non-Independent Non-Executive Director.
Strengthening Corporate Governance
These adjustments reflect First Capital Treasuries PLC’s proactive approach to embedding best practices in corporate governance. The emphasis on independent directors chairing and forming the majority of these crucial committees is a strong positive signal to investors and stakeholders, indicating a commitment to unbiased decision-making, accountability, and adherence to regulatory frameworks. Such steps are vital for maintaining confidence in the integrity and operational transparency of listed entities on the Colombo Stock Exchange.
The changes are expected to further enhance FCT’s governance structure, ensuring that key areas such as executive remuneration, related party dealings, and board nominations are managed with the utmost integrity and in the best interests of all shareholders.
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