Board to approve the final audit results for 2013-14 after a dip in revenue last year
All eyes will be on the board of directors of Panacea Biotec, expected to meet on May 30, 2014, to consider and approve the audited financial results for the financial year 2013-14. The company has not been able to do well in the recent past due to huge losses in revenue. The same happened owing to cancellation of UN vaccine progrm supply due to alleged quality issues.
It is also being understood that in view of losses, the board will not be able to recommend any dividend in the meeting.
Also, in accordance with the SEBl (Prohibition of Insider Trading) Regulations, 1992 read with the Company's Code of Conduct for Prevention of Insider Trading, the trading window of the company shall remain closed for the promoters, directors, officers and designated employees of the company from May 20, 2014 to May 31, 2014 (both days inclusive).