Lahore: Pioneer Cement Limited has announced the closure of its share transfer books and the convening of its 40th Annual General Meeting (AGM) as per a report dated August 24, 2026. The company's share transfer books will be closed from September 09, 2026, to September 15, 2026, to facilitate the AGM scheduled for September 15, 2026.
The AGM will be held at 64-B/1, Gulberg-III, Lahore, on Tuesday, September 15, 2026, at 03:30 p.m. The meeting will address several key items of business. These include confirming the minutes of the Extraordinary General Meeting held on March 31, 2026, and the presentation and adoption of the audited financial statements for the year ending June 30, 2026. Also on the agenda are the Chairman Review Report and the auditor's report for the same period.
A significant point of business is the appointment of statutory auditors for the year ending June 30, 2027. M/s KPMG Taseer Hadi & Co., Chartered Accountants, the current auditors, have retired but are eligible and have offered themselves for reappointment.
In terms of special business, the AGM is set to consider a special resolution under Section 199 of the Companies Act, 2017. This resolution seeks approval for Pioneer Cement Limited to invest in the form of loans or advances to Maple Leaf Cement Factory Limited, its holding company, up to an aggregate amount of Rs. 4.00 billion. This investment will span from September 18, 2026, to September 17, 2027, and will carry a mark-up rate of one percent above the three months KIBOR or one percent above the company's average borrowing cost, whichever is higher.
According to information available from the Pakistan Stock Exchange (PSX), these financial maneuvers are crucial for the operational and strategic alignment of Pioneer Cement Limited, a key player in the designated market category.
Furthermore, the company's CEO and Secretary have been authorized to undertake all necessary steps, including regulatory filings with the Securities and Exchange Commission of Pakistan, to facilitate these transactions.