Packages : Material Information - Incorporation of a wholly owned foreign subsidiary in the United Arab Emirates (UAE)

Sec/04/PKGS

January 10, 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi

Commissioner

Company Law Division

Securities & Exchange Commission of Pakistan

NIC Building, Jinnah Avenue, Blue Area

Islamabad

Executive Director / HOD

Offsite-II Department, Supervision Division

Securities & Exchange Commission of Pakistan

63, NIC Building, Jinnah Avenue, Blue Area

Islamabad

Dear Madam / Sir,

Sub: Disclosure of Price Sensitive Information - Incorporation of a wholly owned foreign subsidiary in the United Arab Emirates (UAE)

In accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited ("PSX"), Packages Limited (the Company) hereby conveys the following information:

The Board of Directors of the Company in a meeting held on April 27, 2022 had accorded its approval for incorporation of a wholly owned foreign subsidiary in the UAE, subject to all applicable regulatory approvals. After the said approvals, the subsidiary has been incorporated under Dubai Integrated Economic Zones Authority Implementing Regulations, 2022 and registered with Dubai Integrated Economic Zones Authority.

A disclosure form as required under S.R.O. 143/(1)/2012 dated December 05, 2012 read with Sections 96 and 131 of the Securities Act, 2015 is also enclosed as Annexure Ahereto.

You are requested to disseminate the information to the Members of the Exchange accordingly.

Yours sincerely,

For PACKAGES LIMITED

Iqra Sajjad

Company Secretary

Encl: As Above

DISCLOSURE FORM

IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

Name of Company	Packages Limited
Date of Report	10 January 2023
Name of Company as specified in the Memorandum	Packages Limited
Company's Registered Office	4th Floor, The Forum Suite # 416-422,G-20, Block 9,
	Khayaban-e-Jami, Clifton, Karachi - 75600
Contact Information	Tel: [phone]

Disclosure of price sensitive / inside information by listed company in terms of Section 96 and 131:

This is in continuation of our earlier letter bearing reference number Sec/56/PKGS dated April 28, 2022 wherein we informed that the Board of Directors of Packages Limited (the Company) in a meeting held on April 27, 2022 accorded its approval for incorporation of a wholly owned foreign subsidiary in the UAE, subject to all applicable regulatory approvals.

We are pleased to inform you that the subsidiary has been incorporated under Dubai Integrated Economic Zones Authority Implementing Regulations, 2022 and registered with Dubai Integrated Economic Zones Authority under the name Packages Trading FZCO. The subsidiary will be primarily engaged in commercial trading with import, export, distribution and warehousing as its ancillary activities.

Pursuant to the requirements of the Securities Act, 2015, the Company has duly caused this form/statement to be signed on its behalf by the undersigned hereunto duly authorized.

For and on behalf of

PACKAGES LIMITED

Iqra Sajjad

Company Secretary