Karachi December 20 2021: The Board of Directors of TRG Pakistan Ltd. (“TRGP” or “the Company”) considered the options offered to it by The Resource Group International Limited (“TRGI”), i.e. either to (i) directly receive (by way of full or partial redemption) its share of TRGI’s liquid assets namely cash and certain number of shares of Ibex Limited owned by TRGI (“Liquid Assets”), or (ii) continue with its investment in TRGI.
After having considered the matter in detail and keeping in view the long-term strategy and objectives of the Company, the Board of Directors decided that the Company should choose continue with its investment in TRGI and to continue to work towards further maximizing value and capital return of its proceeds for the Company and its shareholders.
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The Company further requested TRGI to consider and implement an alternate means of providing direct or indirect value, benefit, and liquidity to the
shareholders of TRGP.
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TRGI has duly considered the request, and now intends to implement TRGP’s request through housing TRGP’s portion of the Liquid Assets in a separate wholly owned subsidiary of TRGI (“SPV”). This SPV will, as soon as practicable, utilize all or part of these Liquid Assets to purchase
shares of TRGP from the stock market from time to time, in order to provide value, benefit, and liquidity to the shareholders of TRGP. Such transactions will be conducted independently by the SPV in accordance with applicable laws.
