AKD Securities members approve Rs3bn loans to associated companies

Shareholders of AKD Securities Limited have approved long-term loans totalling Rs3 billion for two associated companies and authorised the issuance of a corporate guarantee of up to Rs2.5 billion for AKD Group Holdings (Private) Limited.

The approvals were granted at the company’s Extra-Ordinary General Meeting held on June 24, 2026, according to a notice issued by AKD Securities Limited.

Under the first special resolution, members approved a long-term loan of Rs2.5 billion to AKD Group Holdings (Private) Limited for a period of five years.

The approval was granted under Section 199 of the Companies Act, 2017 and the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017.

The members also approved a separate long-term loan of Rs500 million to Creek Developers Private Limited, also an associated company, for a period of five years.

Both loans are subject to the terms and conditions set out in the Statement of Material Facts annexed to the notice under Section 134(3) of the Companies Act, 2017.

In another resolution, shareholders approved the issuance of a corporate guarantee by AKD Securities Limited as security against standby letters of credit aggregating up to Rs2.5 billion to be obtained by AKD Group Holdings (Private) Limited.

The company said the corporate guarantee would be issued subject to applicable laws and on terms disclosed to shareholders.

The Chief Executive, any two directors jointly, or any one director together with the Chief Financial Officer or Company Secretary, have been authorised to negotiate, finalise and execute the loan agreements and related documents.

They have also been authorised to complete all corporate and legal formalities required to implement the resolutions.

As part of ordinary business, shareholders also confirmed the minutes of the Extra-Ordinary General Meeting held on January 27, 2026.

AKD Securities Limited is a TREC holder of the Pakistan Stock Exchange Limited and is registered as a broker with the Securities & Exchange Commission of Pakistan.