Lahore: Highnoon Laboratories Limited, a prominent pharmaceutical company, announced significant changes to its audit oversight today. According to information available from the Pakistan Stock Exchange (PSX), the company's Board of Directors has officially accepted the resignation of their previous auditors and appointed new ones.

On August 1, 2024, the Board of Highnoon Laboratories convened through circular resolution to address the resignation of M/s. KPMG Taseer Hadi and Co. Chartered Accountants, which took effect on July 31, 2024. The resignation was approved without any disclosed reasons for the departure.

In a seamless transition, the Board has appointed M/s. BOO Ebrahim and Co. Chartered Accountants as the new statutory auditors for the fiscal year ending December 31, 2024. This change comes into effect immediately from the date of the resolution.

This corporate governance update is critical as it ensures the continuity of transparent financial oversight of Highnoon Laboratories. The decision is expected to be communicated to all certificate holders of the exchange to maintain full disclosure in compliance with the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations.

The swift appointment of BOO Ebrahim and Co. highlights the company's commitment to upholding robust financial practices and regulatory compliance.