Pioneer Cement Convenes Extraordinary General Meeting On October 27 to Elect Eight-Member Board of Directors

Pioneer Cement Limited has called an Extraordinary General Meeting (EOGM) for Tuesday, October 27, 2026, at 3:00 p.m. at its registered office in Gulberg-III, Lahore, to elect a new Board of Directors and confirm the minutes of its last Annual General Meeting held on September 15, 2026. According to the formal corporate notice issued by Company Secretary Talha Saif by order of the board, the directors have fixed the strength of the incoming board at eight (8) elected members, who will serve a three-year tenure starting from the date of the election in accordance with Section 159 of the Companies Act, 2017.

The seven retiring directors of Pioneer Cement Limited are Mr. Tariq Sayeed Saigol, Mr. Taufique Sayeed Saigol, Mr. Danial Taufique Saigol, Ms. Jahanara Saigol, Syed Mohsin Raza Naqvi, Mr. Tajammal Hussain Bokharee, and Mr. Zulfikar Monnoo. No sitting director holds any direct or indirect interest in the special business other than as a shareholder eligible to contest the upcoming election.

“For the purpose of the election of directors under Section 159 of the Companies Act, 2017, the Board of Directors has fixed the number of elected directors at eight for a three-year tenure.”

Board Seat Allocation and Category-Wise Voting Structure

Under the corporate governance framework, candidates seeking election must select a single category in which to contest, with shareholder voting conducted separately across three designated board categories:

If the number of candidates contesting within any specific category does not exceed the number of seats allocated to that category, those nominees will be declared elected unopposed without triggering a formal voting process. Should the number of candidates exceed the eight seats fixed by the board, shareholders will be permitted to cast their ballots via e-voting or postal ballot in line with the Companies Act, 2017 and the Companies (Postal Ballot) Regulations, 2018. To oversee a transparent ballot, the board has appointed M/s. Abdul Rahman & Co., Chartered Accountants as the official Scrutinizer and M/s. Corplink (Pvt.) Limited as the E-Voting Agent.

Eligibility Rules and Candidacy Filing Requirements

Any shareholder wishing to contest the election—whether a retiring director or a new candidate—must submit a formal notice of intention to the company’s registered office at 64-B/1, Gulberg-III, Lahore, at least 14 days prior to the EOGM. Nominations must be accompanied by the following statutory documentation:

• Account & Identity Credentials: Candidates must provide their folio number, CDC Investor Account number, CDC Participant number, or Sub-Account number alongside an attested copy of a valid CNIC or passport and National Tax Number (NTN) certificate.
• Statutory Consent & Profile: Submissions must include formal consent to act as a director on Form 28 under Section 167 of the Companies Act, 2017, as well as a detailed professional profile and office address required under SECP Notification S.R.O. 1196(I)/2019.
• Independent Director Qualification: Candidates contesting for the two Independent Director seats must submit a declaration on non-judicial stamp paper under Clause 6(3) of the Listed Companies (Code of Corporate Governance) Regulations, 2019, confirming they meet the independence criteria under Section 166 of the Companies Act, 2017, and are registered on the independent directors’ data bank maintained by the Pakistan Institute of Corporate Governance (PICG).
• Directorship Cap & Compliance Declarations: Every nominee must sign a declaration confirming familiarity with the Companies Act, the company’s Memorandum and Articles of Association, PSX listing regulations, and corporate governance codes. Candidates must also verify that they are not ineligible under Section 153 of the Act and do not simultaneously serve as a director (including as an alternate director) in more than seven (7) listed companies.   

Key Shareholder Deadlines, Book Closure, and Participation Guidelines

To facilitate investor participation and regulatory compliance, Pioneer Cement has outlined the following schedule and procedural requirements:

• Share Transfer Book Closure: The company’s share transfer books will remain closed from October 21, 2026, to October 27, 2026 (both days inclusive). Share transfer applications received by the company’s registrar, M/s. Corplink (Pvt.) Limited (Model Town, Lahore), before the close of business hours on October 20, 2026, will be processed in time to determine EOGM attendance and voting entitlement.
• Online Attendance Registration: Shareholders wishing to attend the EOGM virtually via video link must register by emailing shares@pioneercement.com with the subject line “Registration for EOGM” at least 72 hours before the meeting, attaching copies of both sides of their valid CNIC, their Folio/CDC Account number, and cell phone number.
• Proxy Submissions: Members appointing another shareholder as a proxy must ensure signed proxy forms reach the registered office at least 48 hours prior to the meeting. CDC account holders attending in person must bring their original CNIC or passport, while corporate entities must present a board resolution or power of attorney bearing the nominee’s specimen signature.
• Geographic Video Link Facility: Under Section 134(1)(b) of the Companies Act, 2017, members holding an aggregate 10% or more shareholding in another city may apply for a dedicated video-link venue at least 10 days before the EOGM, with the company notifying applicants of the venue details at least five days prior to the session.
• Conversion of Physical Shares & SECP Rules: In compliance with Section 72 of the Companies Act, 2017, shareholders still holding physical share certificates are urged to convert them into book-entry (scripless) form through CDC, as physical share trading is prohibited under Pakistan Stock Exchange (PSX) regulations. Additionally, in strict adherence to SECP mandates, no gifts will be distributed at the meeting.

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