Lahore: Shareholders of Maple Leaf Cement Factory Limited have adopted special resolutions during an Extraordinary General Meeting held on Monday, October 19, 2026, to approve the merger of Pioneer Cement Limited into Maple Leaf Cement Factory Limited. The meeting took place at 64-B/1 Gulberg-III, Lahore, at 4:00 PM.

The resolutions, in compliance with Listing Regulation No. 5.6.9(b) of the Rule Book of Pakistan Stock Exchange Limited, were aimed at facilitating the amalgamation process, which is part of a Scheme of Arrangement dated September 2, 2026. This scheme, approved by the Board of Directors of Maple Leaf Cement Factory Limited, outlines the merger's details and necessary ancillary matters.

According to information available from the Pakistan Stock Exchange (PSX), the decision marks a significant step in the consolidation of operations between the two companies. The merger involves the entire undertaking of Pioneer Cement Limited being absorbed into Maple Leaf Cement Factory Limited, subject to any modifications mandated by the Honourable Lahore High Court, Lahore.

The shareholders also authorized the Chief Executive and the Company Secretary of Maple Leaf Cement Factory Limited to undertake any measures required to implement the Scheme of Arrangement, ensuring a smooth transition and completion of the merger process.