Leading SL share holders of MTD Walkers shut out of AGM | Daily News

Leading SL share holders of MTD Walkers shut out of AGM

The first MTD Walkers virtual AGM held over Zoom ended in controversy as most of the shareholders said that they were unaware of the holding of the AGM. Top two Sri Lankan shareholders of the company too were not given notice to attend, they claimed.

“Some minority shareholders too were conveniently deprived of participating through Zoom, where the Secretary of Company has refused to give access citing later request .The third largest minority shareholder of MTD Walkers too was not allowed to participate,” a shareholder said.

“During questioning time the sound was mysteriously turned off or turned down and none of the participants could hear the AGM proceedings.”

Meanwhile, a majority shareholder, Udaya Thuduwewatte has written to the Securities and Exchange Commission of Sri Lanka stating that the AGM of the shareholders of MTD Walkers PLC has been illegally scheduled.

“I am the third largest shareholder of the company and the second largest minority shareholder of MTD Walkers. Myself and many other minority shareholders have not been sent any notice of this annual general meeting and any zoom link to connect to this illegally scheduled annual general meeting of MTD Walkers PLC.”

“This is the only platform and opportunity for minority shareholders to raise and voice our concerns. This deprivation of our only opportunity is a total violation of our rights and privileges of a minority shareholder. We have invested our personal savings in the shares of the above company and feel that we are completely cheated.

I humbly request you to initiate actions to cancel this illegally scheduled annual general meeting of MTD Walkers PLC and further an inquiry to be conducted into this serious offence and take necessary action to protect the public investments in MTD Walkers PLC.”