Exterminators holds first AGM

Saturday, 3 September 2022 00:00 - - {{hitsCtrl.values.hits}}

From left: Managing Director Marlon Ferreira, Chairman Chaaminda Ratnayake, and Executive Director Travis Ferreira

Dividend payout 30% for the FY 2021/22
Plans to increase the capital by Rs. 17.4 m to Rs. 100 m by way of a capitalisation of reserves
Capitalisation offers one share for every 17.52 shares and is subject to CSE approval

Exterminators PLC, Sri Lanka’s premier pest management and environmental technology company, held its first Annual General Meeting upon listing on the Colombo Stock Exchange on 30 March.

Exterminators PLC shareholders approved all proposals at the hybrid AGM held on 30 August; this included re-electing Dr. Nihal Attygalle and Suhaniya Ferreira as non-executive non independent directors and Travis Ferreira as ‘Executive Director’. The annual review and the financial statements were approved, as were the proposed final dividend of Rs. 0.07 per share for the financial year 2021/22. The payment date would be 30 September 2022. Overall dividend payout for the financial year 21/22 is 30% value Rs. 8.02 million. The dividend represented an increase of 89% over the previous year’s dividend payout. The company plans to capitalise Rs. 17.4 million to increase its stated capital to Rs. 100 million in the proportion of 1 per 17.52 shares will be issued upon CSE approval.

“We carved a unique niche within the industry as an environmental management company which extends its services beyond the realms of pest control. As a growth oriented business we hope to explore market development strategies by venturing across borders with global expansion,” Exterminators PLC Chairman Chaaminda Ratnayake stated.

“Way back in 1998, we embarked on our journey to build a brand to determine our own destiny with an initial investment of Rs. 75,000. Today we are recognised as a leader in innovation, technology, sustainability and governance in Sri Lanka and the emerging world. Smart Missile ‘The world’s 1stcarbon neutral termite station’ was exported to Seychelles and ‘Smart Guard’ termiticide replenishment system was installed at Velana International Airport, Maldives. These products were designed, developed and manufactured by Exterminators. Exterminators PLC is a participant of the ‘United Nations Global Compact’ the world’s largest corporate sustainability initiative.

“We are planning to move across borders throughout emerging and developing markets to colonise our proven and recognised business model to help communities to enhance living standards in South Asia, Southeast Asia, Central Asia, Middle East, Africa and pacific island nations via direct investment, joint ventures, and international franchising. Our success story thus far epitomises an entrepreneurial mindset and a strong conviction which has been guided by strong values,” Founder/Managing Director Marlon Ferreira stated.