Lahore: Pioneer Cement Limited has announced an Extraordinary General Meeting (EOGM) scheduled for March 31, 2026, as disclosed in a notice dated March 5, 2026. The meeting will take place at the company’s registered office in Lahore to discuss special business, including the issuance of a substantial cross corporate guarantee.

The EOGM, set to convene at 11:30 a.m., will address the authorization for Pioneer Cement Limited to issue a cross corporate guarantee up to Rs. 75 billion. This financial move is intended to support Maple Leaf Cement Factory Limited (MLCFL) by facilitating a financing facility with banks. The resolution, proposed under Section 199 of the Companies Act, 2017, will be presented for approval by the company’s shareholders.

The agenda for the EOGM encompasses the consideration and potential passage of this special resolution, which includes the creation of charges on the company’s assets for the benefit of MLCFL. Pioneer Cement Limited’s Chief Executive and Company Secretary have been authorized to implement the resolution, should it receive shareholder approval.

According to information available from the Pakistan Stock Exchange (PSX), Maple Leaf Cement Factory Limited is a holding company that owns 77.38% of Pioneer Cement Limited’s aggregate paid-up capital. The financial position of MLCFL, based on its latest audited statements for the year ending June 30, 2025, shows a total equity of Rs. 71.46 billion, with current liabilities of Rs. 23.33 billion and current assets totaling Rs. 35.75 billion.

Shareholders of Pioneer Cement Limited are invited to participate in the EOGM either in person or via proxy, with the deadline for proxy submissions set for March 29, 2026. The meeting will also include provisions for electronic voting and postal ballots, allowing members to exercise their voting rights in accordance with the Companies (Postal Ballot) Regulations, 2018.

Additionally, Pioneer Cement Limited has announced measures to ensure compliance with regulatory requirements, including the mandatory electronic payment of dividends and the conversion of physical shares to book-entry form as per Section 72 of the Companies Act, 2017. Shareholders are urged to submit their electronic credit mandate forms and to convert their shares to facilitate transactions.

The company has also emphasized the prohibition on granting gifts to shareholders during the meeting, adhering to guidelines set by the Securities and Exchange Commission of Pakistan (SECP).