Loads Limited seeks shareholder nod for MAIL loan arrangements at AGM

September 17, 2026 (MLN): The Board of Directors of Loads Limited (PSX:LOADS) has approved and recommended to shareholders two proposed investments in Multiple Autoparts Industries (Private) Limited (MAIL), a subsidiary/associated company, subject to approval by way of special resolution under Section 199 of the Companies Act, 2017.

In a notice to the Pakistan Stock Exchange (PSX), the company said the board's decision, taken at its meeting on Thursday, was conveyed in compliance with Rule 5.6.1 of the PSX Rule Book read with Section 96 of the Securities Act, 2015.

Under the first proposal, the company plans to place an outstanding trade receivable of Rs652.56mn due from MAIL on a formal long-term loan basis, without involving any fresh cash disbursement.

The facility will carry a maximum tenor of seven years, with a return/markup of KIBOR plus 3% per annum, payable quarterly in arrears, and the principal repayable on demand or, in any event, no later than final maturity. The facility will remain unsecured.

Under the second proposal, the company intends to extend a separate fresh long-term loan facility of up to Rs250mn to MAIL for its working capital requirements and financial obligations.

The facility may be disbursed in one or more tranches after shareholders' approval and will also carry a maximum tenor of seven years at KIBOR plus 3% per annum, payable quarterly in arrears, with the principal repayable on demand or, in any event, no later than final maturity, on an unsecured basis.

Both proposals will be placed before shareholders at the company's forthcoming Annual General Meeting for approval under Section 199 of the Companies Act, 2017, with the company noting that no implementation of the trade receivable arrangement and no disbursement under the fresh loan facility will take place prior to receipt of the requisite shareholders' approval.

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