· The Board of Directors of TRG Pakistan Ltd (TRG) in their recent follow up meeting to the 10th of December 2021 were given the options either to (i) directly receive share in TRGI’s liquid assets (cash or certain number of shares of IBEX ltd.) by means of full or partial redemption, or (ii) continue with its investment in TRGI.

· After due consideration, the BoDs has decided to choose option (ii) that is, “to continue to work towards further maximizing value and capital returns of its proceeds for the Company and its shareholders”.

· In addition to this, TRGP further requested TRGI to directly or indirectly provide value, benefit or liquidity to its shareholders. It was further decided to park TRGP’s portion of the Liquid Assets in a separate wholly owned subsidiary of TRGI (“SPV”) which will time to time purchase shares of TRG from the stock market, to provide value, benefit and liquidity, while remaining in compliance with all the applicable laws and standards.

Courtesy – AHL Research