The corporate structure of Pakistan’s industrial sector continues to evolve as Kot Addu Power Company Limited secures critical shareholder backing for its latest investment venture. In an official disclosure disseminated to the Pakistan Stock Exchange, the energy generation company announced that its members have formally approved financing facilities and debt obligations of up to 47.5 million dollars. This substantial credit arrangement is specifically earmarked to fund the strategic acquisition of shares in Attock Cement Pakistan Limited, marking a major diversification move for the power producer into the domestic construction materials manufacturing market.
The decision was formalized through a special resolution passed by the shareholders during the company’s 15th Extraordinary General Meeting held on July 13, 2026. This legislative approval was granted in strict compliance with Article 41(c) of the company’s Articles of Association and the governing provisions of the national Companies Act of 2017. Under the approved resolution, the company is authorized to secure the necessary loans and capital, including the execution of all associated securities, parent guarantees, financial indemnities, asset charges, property mortgages, and other ancillary financing agreements required by lending institutions to finalize the transaction.
To ensure smooth executive management of the transaction, the general body of shareholders has authorized a joint leadership group to act on behalf of the organization. Specifically, any two officers among the Chief Executive Officer, the General Manager of Finance who serves as the Chief Financial Officer, and the Company Secretary, acting jointly, have been fully authorized to execute the debt obligations. Their mandate includes signing all binding credit contracts, financing paperwork, security pledges, legal undertakings, regulatory notices, and administrative writings. Additionally, the shareholders actively ratified and approved all previous corporate acts, deeds, and procedural arrangements already carried out by management in pursuit of these debt obligations.
Alongside the financing mandates, the members of the company also approved and adopted a newly proposed set of Articles of Association. This governing document, which had been presented before the assembly and initialed by the Company Secretary for administrative identification, modernizes the internal rules of the enterprise. To facilitate the smooth filing of these changes, the assembly granted single authorization to either the Chief Executive Officer or the Company Secretary to take all necessary regulatory steps. These representatives are empowered to submit all requisite statutory forms, corporate returns, and legal documents to the Securities and Exchange Commission of Pakistan, as well as any other relevant state authorities.
The newly adopted Articles of Association will remain subject to any adjustments, amendments, additions, or structural deletions that may be subsequently directed or required by the Securities and Exchange Commission of Pakistan. Under the terms of the special resolution, any such regulator-mandated changes will automatically be integrated into the documents without requiring the company to call another general meeting or seek a fresh resolution from its voting members. This transaction marks a key moment in the power producer’s efforts to deploy its financial reserves into viable long-term industrial assets, providing a stable foundation for revenue generation beyond the traditional energy sector.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.