TRGI to allocate $120mn liquid assets to TRG Pakistan

MG News | December 10, 2021 at 09:33 AM GMT+05:00

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December 10, 2021 (MLN): TRG Pakistan has informed through a notice to PSX that the Resource Group International Limited (TRGI) Board has approved the allocation of its liquid assets to its shareholders whereby TRG Pakistan’s portion would be approximately $120 million (inclusive of around $10mn in deferred cash) plus approximately 5.4 million shares of its listed portfolio company, Ibex Limited.

The process and structure for utilization of the above allocation are expected to be finalized by 31 December 2021, and the company will announce further details at that time, the notice said.

Meanwhile, another notice sent to PSX said that the company has appointed Mr. Hasnain Aslam as a Director on the Board as well as the Chief Executive Officer of TRG Pakistan Limited with effect from 10th December 2021 in place of Mr. Muhammad Ziaullah Khan Chishti.

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