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TRG Pakistan Limited: Minutes from the Board Meeting

In a recent follow-up meeting, the Board of Directors of TRG Pakistan Ltd (TRG) were offered the choice of I directly receiving shares in TRGI’s liquid assets (cash or a specific number of IBEX ltd.) through complete or partial redemption, or (ii) continuing with its investment in TRGI.

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After careful study, the Board of Directors has decided on option (ii), which is “to continue to strive toward further optimising the value and capital returns of the Company’s profits for 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.

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