December 20, 2021 (MLN): The Board of Directors (BoD) of TRG Pakistan Ltd. (TRGP) decided to continue with its investment in the Resource Group International Limited (TRGI) in order to maximize the value and capital return of its proceeds for the company and its shareholders, company's filing on PSX showed today.
The company further requested TRGI to consider and implement the alternate means of providing direct or indirect value, benefit, and liquidity to the shareholders of TRGP.
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 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.
The aforesaid decision is following the disclosure of material information dated 10 December 2021, wherein, the board of TRGP considered the options offered by TRGI, i.e. either to directly receive its share of TRGI’s liquid assets namely cash and a certain number of shares of Ibex Limited owned by TRGI or continue with its investment in TRGI.
