Karachi: Loads Limited has officially announced that its 46th Annual General Meeting (AGM) will be held on October 20, 2026, at 10:00 a.m. The meeting is set to take place at Plot No. DSU-19, Sector II, Pakistan Steel Industrial Estate Bin Qasim, Karachi, with an option for participation via video link. The date of the report is September 29, 2026.
The AGM's agenda includes the confirmation of minutes from the previous year's meeting, the adoption of audited financial statements for the fiscal year ending June 30, 2026, and the appointment of new external auditors. M/s Yousaf Adil & Co Chartered Accountants has expressed its willingness to serve as auditors for the year ending June 30, 2027.
A significant topic on the agenda is the consideration of a special resolution to grant a long-term loan facility to the company's subsidiary, Multiple Autoparts Industries (Private) Limited (MAIL). The proposed loan amounts to PKR 652,563,695 and will be facilitated by adjusting the equivalent amount from MAIL's outstanding receivable, with no new cash disbursement.
Shareholders are informed that ballots for voting will be accepted via postal service until October 19, 2026. For the voting process, the company has appointed M/s UHY Hassan Naeem & Co, Chartered Accountants, to act as the scrutinizer.
In compliance with Section 223(6) of the Companies Act, 2017, Loads Limited has dispatched the Annual Report 2025 electronically to shareholders whose emails are registered with the company's share registrar. Hard copies are available upon request.
According to information available from the Pakistan Stock Exchange (PSX), this strategic move is part of Loads Limited's efforts to bolster its operational capacity and financial stability. This financial maneuvering marks a significant shift as the company navigates the complexities of market demands.
The proposed loan facility is designed to meet MAIL's working capital requirements and is structured with a seven-year tenure. The loan will bear an interest rate pegged at the three-month KIBOR plus 3.00% per annum, with payments due quarterly in arrears. The loan is unsecured and includes provisions for prepayment and acceleration in the event of default.
As Loads Limited prepares for its AGM, the focus remains on securing shareholder approval for the loan facility, which is seen as a pivotal step in strengthening its subsidiary's market position.