Colombo, 11 September 2026 – MAHARAJA FOODS PLC (CSE: PQ00296080) has announced an Extraordinary General Meeting (EGM) to be held virtually on 25th September 2026. The pivotal meeting, scheduled immediately following the company’s Annual General Meeting (AGM), aims to seek shareholder approval for a final scrip dividend and a significant amendment to the company’s Articles of Association, signaling a broad strategic expansion of its business mandate.
According to the notice issued today, shareholders will convene online to deliberate on two key resolutions that could reshape the company’s financial structure and future operational scope.
Key Resolutions on the Agenda
Final Scrip Dividend Proposal
The first resolution to be considered is an Ordinary Resolution for the declaration and payment of a final dividend for the financial year ended 31st March 2026, to be entirely settled as a scrip dividend. This means eligible shareholders will receive their dividend in the form of new Ordinary Voting Shares of the company, rather than cash.
- Dividend Amount: Rs. 0.10 per Ordinary Voting Share.
- Aggregate Value: Rs. 11,687,500.00 net of tax.
- Payment Method: Wholly by way of the issue and allotment of Ordinary Voting Shares.
- Record Date/Entitlement Date: 29th September 2026, which is the second market day from and excluding the EGM date.
The scrip dividend aims to conserve cash while rewarding shareholders, a common strategy adopted by companies for reinvestment and balance sheet strengthening.
Amending Articles of Association for Strategic Growth
The second, and arguably most far-reaching, resolution is a Special Resolution to amend Article 3 of the company’s Articles of Association, which outlines its core objects. The proposed amendments seek to substantially broaden MAHARAJA FOODS PLC’s business activities, moving beyond its traditional scope.
The existing Articles of Association No: 3 (1) and (2) are set to be deleted and substituted with an extensive new set of objects, reflecting an ambitious diversification strategy. The new Articles of Association No.3 (1) through (6) will empower the company to engage in:
- Agriculture and Agribusiness: Cultivation, procurement, processing, storage, trading, distribution, and marketing of agricultural produce, including paddy, rice, grains, cereals, pulses, and spices.
- Rice Milling and Storage: Operating, managing, and maintaining rice mills, as well as establishing and managing warehouses and storage facilities for agricultural produce and food products.
- Food Manufacturing and Retail: Manufacturing, processing, packaging, marketing, distributing, wholesaling, and retailing food products, fast-moving consumer goods (FMCG), general merchandise, and operating supermarkets, retail outlets, and online sales platforms.
- General Trade: Importing, exporting, purchasing, selling, supplying, and distributing goods, commodities, raw materials, machinery, and equipment related to its diverse businesses.
- Homeware and Kitchenware: Importing, exporting, purchasing, selling, distributing, wholesaling, and retailing cookware, kitchenware, homeware, and related household products.
- Machinery and Equipment Services: Importing, exporting, purchasing, selling, distributing, installing, maintaining, and repairing various mills (rice, flour, grinding) and related machinery and equipment.
This comprehensive amendment suggests a strategic pivot towards becoming a multifaceted player across the entire food value chain, from farm to consumer, and venturing into allied sectors like homeware and industrial equipment services.
Virtual EGM Participation Details
In line with current practices, the EGM will be held virtually. Shareholders are encouraged to actively participate. Detailed instructions for attendance have been provided:
- Shareholders wishing to participate must forward a duly completed ‘Registration Form’ via post or email (nipuna@chart.lk / cbs@chart.lk) to the Company Secretary not later than 48 hours prior to the meeting.
- Login information will be shared with registered participants.
- Shareholders can submit queries in advance via post or email to the Company Secretary at least 48 hours before the meeting.
- The company strongly encourages shareholders to appoint a director as their proxy by submitting the Form of Proxy along with the Registration Form, to ensure their vote is recorded efficiently. Proxy forms must reach the Company Secretary not less than 48 hours prior to the meeting.
The Board of Directors, Chairman, and essential administrative personnel will assemble at the Maharaja Foods PLC Board Room at 513, Galle Road, Colombo 06, while all other participants will join virtually.
This EGM marks a crucial juncture for MAHARAJA FOODS PLC, as it seeks to redefine its operational boundaries and reward shareholders, setting the stage for potential future growth and diversification in the Sri Lankan economy.
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