Lahore: Citi Pharma Limited has announced an Extraordinary General Meeting (EOGM) scheduled for July 8, 2026, at 2:00 p.m. at its Johar Town, Lahore location. The meeting aims to address significant items on the agenda that involve both ordinary and special business matters.
The ordinary business item on the agenda is the confirmation of the minutes from the Annual General Meeting held on October 27, 2025. This procedural step is set to ensure that all previous resolutions and discussions are formally acknowledged and recorded.
However, the focal point of the meeting will be the special business, which revolves around a scheme of arrangement under sections 279 to 283 and 285 of the Companies Act, 2017. This scheme involves Citi Pharma Limited and Citi Core Holdings (Pvt) Limited, with the specific goal of demerging immovable property assets from Citi Pharma Limited into a newly incorporated Special Purpose Vehicle (SPV). This demerger is a pre-condition for the formation of a Real Estate Investment Trust (REIT) under the Real Estate Investment Trust Regulations 2022.
The Lahore High Court, through an order dated June 4, 2026, has directed this EOGM to consider and potentially approve this scheme. According to the resolution, the SPV shall issue consideration shares to Citi Pharma Limited in accordance with REIT regulations. Furthermore, as a strategic investor under these regulations, Citi Pharma Limited will transfer its 100% shareholding in the SPV to the REIT Trustee on behalf of the REIT Scheme. These arrangements are subject to any modifications that the Lahore High Court may require.
The meeting will also address any other modalities as per the REIT Regulations that stand attached to this scheme. The company has ensured compliance with the court’s order by issuing the notice for the EOGM, which will also include a subsequent meeting for Citi Core Holdings (Pvt) Ltd at the same venue at 3:00 p.m.
According to information available from the Pakistan Stock Exchange (PSX), Citi Pharma Limited is currently operating in the Pharmaceutical industry. The outcome of this EOGM and the potential approval of the demerger plan could have significant implications for the company’s future operations and structure.
The proceedings and resolutions from this EOGM are anticipated to play a pivotal role in shaping the future business landscape for both Citi Pharma Limited and Citi Core Holdings (Pvt) Limited.