Islamabad: Mari Energies Limited announced today the approval of a significant corporate guarantee issuance amounting to Rs. 8.30 billion on behalf of Sky47 Limited, an associated company. This decision emerged from an urgent meeting of the company's Board of Directors.

The corporate guarantee approval will be subject to ratification by the members of the company at an extraordinary general meeting scheduled for June 20, 2025. This meeting, to be held in Islamabad, will also cover the election of directors in its agenda. The approval of the corporate guarantee is a key agenda item for this upcoming meeting.

According to information available from the Pakistan Stock Exchange (PSX), the move by Mari Energies Limited is a strategic decision within the designated market category that could significantly impact both companies involved. The corporate guarantee, once approved by the company members, will offer financial backing to Sky47 Limited, facilitating its business operations and potential growth.

The details of this corporate action have been communicated to the TRE Certificate holders of the Exchange, to ensure transparency and compliance with regulatory requirements.