TRG PAKISTAN LIMITED TRG PAKISTAN LTD.
24th FLOOR, SKY TOWER WEST WING | UAN | +92-21-111-874-874 |
DOLMEN, HC-3,BLOCK-4, MARINE DRIVE | FAX | +92-21-35184042 |
CLIFTON, KARACHI - 75600, PAKISTAN | WEB | http://trgpcorp.com |
February 23, 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Subject: Disclosure of Material Information
Dear Sir,
In accordance with Sections 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, we hereby convey the following information:
With reference to various news articles circulating in the electronic and print media regarding the issuance of bailable warrants by the District and Sessions Court in Karachi against various individuals, including certain directors of TRG Pakistan Limited (the "Company"), these individuals have filed appropriate legal applications in the Sindh High Court and submitted, inter alia, that the impugned District and Sessions Court order suffers from illegalities, infirmities as well as jurisdictional error.
These individuals further submitted that in November 2021, the United States House Judiciary Committee had made public, the testimony of Ms. Tatiana Spottiswoode against Mr. Zia Chishti (https://docs.house.gov/meetings/JU/JU00/20211116/114227/HHRG-117-JU00-Wstate-SpottiswoodeT-20211116.pdf), which was publicized extensively in international media, and was followed by the resignation of Mr. Zia Chishti from all his positions at the Company and its associates. Furthermore, it was submitted that the United States House Judiciary Committee has also publicly released on its website, the Arbitration award against Mr. Zia Chishti (https://docs.house.gov/meetings/JU/JU00/20221208/115220/HHRG-117-JU00-20221208-SD999.pdf).
Accordingly, The Honourable High Court of Sindh was pleased to pass orders on February 22, 2023, suspending, for the time being, the operation of the bailable warrants issued by the District and Sessions Court against these individuals.
Sincerely,
For and on behalf of
TRG Pakistan Limited
Zeeshan Ul Haq
Company Secretary
Cc: | The Director / HOD |
Surveillance, Supervision and Enforcement Department | |
Securities and Exchange Commission of Pakistan | |
NIC Building, 63 Jinnah Avenue | |
Blue Area, Islamabad |
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TRG Pakistan Ltd. published this content on 23 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2023 06:12:02 UTC.
