Compliant filed by TRG’s director is not on merit: Company clarifies

MG News | June 20, 2022 at 09:30 AM GMT+05:00

0:00

June 20, 2022 (MLN): TRG Pakistan Limited (PSX: TRG) has clarified that the complaint filed with SECP by Asad Nasir, Director of the company pertaining to matters voted on in December 2021 is not on merit, the company filing on PSX showed today.

“It has come to the company’s attention that a recent online article has referenced a complaint filed with the SECP by one of the company’s directors. While one of the ten directors of the Company, Asad Nasir, has filed a complaint with the SECP against other current and former directors primarily regarding matters voted on in December 2021 where the Complainant was the sole dissenting director,” said a notification.

The company strongly believes the complaint to be entirely without merit and is in the process of responding to the complaint.

The Company is further of the position that the contents of the online article are inaccurate and misleading and cautions investors not to readily rely on unsubstantiated articles and rumors.

At the time of reporting this, the company's stock is being traded at Rs73.46, down by Rs2.80 or 3.67% from previous close.

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