September 18, 2026 (MLN): Citi Pharma Limited (PSX:CPHL)
shareholders approved a special resolution to amend the company’s Memorandum of
Association, allowing it to enter the cannabis and industrial hemp <a href="https://industrymovement.com/bristol-fashion-business-shocked-at-dragons-den-investment/” title=”Bristol fashion business 'shocked' at Dragon's Den investment”>business.
The resolution was passed at the Extraordinary General
Meeting (EGM) held on Friday, September 18, 2026.
Shareholders confirmed the minutes of the previous EGM
held on July 8, 2026, before taking up the special business.
Under the approved amendment, a new Clause No. 38 has
been inserted under Clause III of the Memorandum, permitting the company to
undertake cannabis, industrial hemp, medicinal cannabis, marijuana and allied
activities.
These include cultivation, research and development,
processing, extraction, manufacturing, storage, transportation, import, export,
distribution, marketing and sale, along with other related and ancillary
operations.
The company clarified that all such activities will be
carried out strictly in accordance with applicable laws, subject to obtaining
requisite licences, registrations, permissions and approvals from the Cannabis
Control and Regulatory Authority (CCRA) and/or any other competent authority.
Shareholders further authorized the Chief Executive
Officer and/or Company Secretary to carry out any acts, deeds and modifications
required or advised by the Securities and Exchange Commission of Pakistan
(SECP), the CCRA, PSX or any other competent authority in connection with the
resolution.
The special resolution was passed by the requisite
majority.
The aforementionedinformationwas disseminated through
a notification to Exchange.
Related News
CPHL signs Strategic Financial Advisory Agreement with JS Global
CPHL targets full takeover of Pakheim International Pharmaceuticals
Chart of the Day
Latest News
Top 5 things to watch in this week
REER/ NEER Index
Large Scale Manufacturing (LSMI)
Balance of Payment
Auto Numbers
MPC Decision
Previous
