Loads shareholders approve Rs903m loans for subsidiary

October 20, 2026 (MLN): Shareholders of Loads Limited (PSX: LOADS) have approved two long-term loan facilities totalling up to Rs902.56m to the company’s subsidiary, Multiple Autoparts Industries (Private) Limited (MAIL), at the 46th Annual General Meeting.

The first facility, of up to Rs652.56m (Rs652,563,695), will be created by adjusting an equal amount of the existing receivable from MAIL, with no fresh cash disbursement by the company. The second, of up to Rs250m, may be disbursed in one or more tranches, provided the aggregate principal outstanding does not exceed Rs250m. Both are meant to meet MAIL’s working capital requirements, and the second also covers its financial obligations.

The markup on both loans is subject to the minimum return required under applicable regulations. For the first facility, prepayment and acceleration will apply on default in line with the loan agreement, with additional markup of 2.00% per annum on overdue amounts.

The second facility permits prepayment as per the loan agreement. Other terms will follow the written loan agreements.

The CEO, CFO and company secretary, acting singly, are authorised to finalise and execute the loan agreements and related instruments substantially on the approved terms.

No amendment may increase the approved amounts or materially relax the commercial terms without further approval as required by law. For the second facility, no disbursement may take place before shareholder approval.

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