Arab Finance: Speed Medical Company (SPMD) has secured shareholder approval to continue operating despite losses exceeding 50% of shareholders’ equity in its financial statements for the year ended December 31, 2025, as per a disclosure.
This comes as a result of the company's extraordinary general meeting (EGM) held on July 14, 2026.
The EGM also approved the amendment of Articles 18 and 24 of the company's Articles of Association.
It is worth mentioning that the firm suffered consolidated net losses attributable to the parent company of EGP 14.027 million in the first quarter (Q1) of 2026.
Incorporated in 2015, the company specializes in the medical laboratory industry as well as running and managing all types of hospitals.