Karachi: IBL Healthcare Limited will hold its 27th Annual General Meeting (AGM) on October 28, 2024, at Karachi as well as through video conferencing. The meeting will address multiple ordinary and special business items, including the reappointment of auditors and several resolutions related to the company's governance.

The company's financial statements for the year ended June 30, 2024, will be considered during the AGM. According to information available from the Pakistan Stock Exchange (PSX), IBL Healthcare reported a revenue decline of 11%, with a year-end profit of just 0.2% of revenue due to a heavy tax burden. Despite the downturn, the management remains optimistic, attributing ongoing challenges to inflationary pressures and market dynamics that have impacted the healthcare and pharmaceutical sectors globally.

Among the key resolutions to be voted on is the proposed amendment to the company's Articles of Association regarding director remuneration, as well as the ratification of transactions with related parties. These include multiple significant transactions within the IBL Group, which are disclosed in detail in the company's financial statements.

Moreover, shareholders will decide on allowing the board to authorize transactions with related parties for the upcoming fiscal year, ensuring continued transparency and governance.

IBL Healthcare also announced plans to continue its investments in critical areas despite the financial constraints. No dividend will be issued as the company focuses on sustaining its operations and funding strategic initiatives.