Pioneer Cement board okays Rs4bn advances to MLCFL

MG News | July 29, 2026 at 10:23 AM GMT+05:00

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July 29, 2026 (MLN): Pioneer Cement Limited's (PSX:PIOC) Board of Directors has approved investment of up to Rs4bn as loans/advances to holding company Maple Leaf Cement Factory Limited (MLCFL).

The Board has authorised investment in the holding company in the form of loans/advances, under Section 199 of the Companies Act, 2017, subject to shareholders' approval, up to an aggregate sum of Rs4bn for a period of one year commencing September 18, 2026 to September 17, 2027 (both days inclusive).

The facility will carry a mark-up rate of 1% above three-month KIBOR, or 1% above the Company's average borrowing cost, whichever is higher.

The Company further informed that its Annual General Meeting (AGM) will be held on Tuesday, September 15, 2026 at Lahore, and that its share transfer books will remain closed from September 9, 2026 to September 15, 2026 (both days inclusive).

The aforementioned information was disseminated through a notification to Exchange.

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