The Investment Authority refuses to approve the general assembly of Ibn Sina Pharma, which was held in March, for this reason

Cairo – Mubasher: Ibn Sina Pharma said that the General Investment Authority refused to approve the minutes of the Ordinary General Assembly held on March 30.

The company stated in a statement to the Egyptian Stock Exchange today, Thursday, that the refusal was due to the lack of clarity of the location of the meeting management in the invitation to the assembly in which the voting took place electronically.

She added that the Ordinary General Assembly will be called to convene again.

The Ordinary General Assembly of Ibn Sina Pharma Company approved the report of the Board of Directors and the auditor on the company’s activity for the past year, andApproved the profit distribution account for the past year, including the carry forward of the shareholders’ share of the profits.

It is noteworthy that Ibn Sina Pharma recorded a net profit of 170.87 million pounds during 2022, compared to 314.39 million pounds in profits during the previous year, taking into account minority rights.

The holding company’s share of profits during the past year amounted to about 172.58 million pounds, while non-controlling interests recorded losses of 1.71 million pounds.

The company’s sales rose over the past year to 22.26 billion pounds, compared to 21.73 billion pounds in 2021.

On the independent business level, the company achieved profits amounting to 176.37 million pounds during the past year, compared to profits amounting to 315.65 million pounds in the previous year.

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