At its annual general meeting held on 26 August 2015, the shareholders of Singhe Hospitals PLC passed the ordinary resolution to the effect that the sum of Rs. 140 million of the IPO funds would be used to settle the term loan facility obtained from the Bank of Ceylon as stated in the prospectus and subsequently as recommended by the Board of Directors, for this amount to be utilized in the laboratory expansion project which is a more feasible venture than repaying the loan facility.