Islamabad: Shifa International Hospitals Limited (SIHL) has secured shareholder approval to proceed with the amalgamation of Shifa Medical Center Islamabad (SMCI) into its operations. The decision was finalized during an Extraordinary General Meeting held in Islamabad on April 1, 2026, attended by shareholders both in person and via video-link.

The scheme of arrangement, filed with the Islamabad High Court, is based on Sections 279 to 283 and 285(8) of the Companies Act, 2017. It envisions the transfer of all assets, liabilities, and obligations from SMCI to SIHL. The board of SIHL initially approved the plan on October 25, 2025.

According to information available from the Pakistan Stock Exchange (PSX), the arrangement includes issuing SIHL shares to SMCI shareholders, excluding shares held by SIHL, at a ratio of 0.032 SIHL shares for each SMCI share. This move will lead to the automatic dissolution of SMCI without winding up, once the court sanctions the scheme.

The resolution empowers Dr. Zeeshan Bin Ishtiaque, CEO of SIHL, or an authorized officer, to fulfill all necessary corporate, legal, and regulatory requirements to implement the amalgamation. This includes submitting necessary documents to the Islamabad High Court to formalize the scheme in accordance with the relevant sections of the Companies Act.