TRG Pakistan Limited (TRG) issued a public notice on Monday, expressing concerns over the spread of fabricated documents featuring the company’s logo on social media platforms.
In its official communication to the Pakistan Stock Exchange (PSX), TRG highlighted that it “has taken note of fake documents with the company’s logo circulating virally on social media, containing incorrect calculations and financial scenarios related to the intent of a tender recently announced by the company’s largest shareholder.”
The company expressed alarm that shareholders might be influenced by this false and misleading information, which, according to the notice, has been deliberately propagated by certain entities to mislead investors.
Background of the Development
The notice follows a public announcement by Greentree Holdings to acquire up to 35.145% of TRG Pakistan Limited’s issued and paid-up share capital, along with its management control. Under Pakistani securities law, as Greentree’s holdings near 30%, any further acquisitions must be conducted through a tender offer.
Greentree Holdings, an international holding company, manages proceeds from the monetisation of TRG’s operational assets.
Advice to Stakeholders
TRG Pakistan urged its public shareholders and stakeholders to rely solely on information disseminated through the company’s official channels. The notice cautioned against being misled by unofficial sources, particularly content circulating on WhatsApp and social media.
About TRG Pakistan Limited
Established in 2002 as a public limited company in Pakistan, TRG Pakistan obtained a license from the Securities and Exchange Commission of Pakistan (SECP) to operate as a Non-Banking Finance Company. The firm is involved in venture capital investments and, through its associate Resource Group International Limited (TRGIL), focuses on investments in technology, medical insurance, and IT-enabled services.
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