TRG PAKISTAN LTD.
24th FLOOR, SKY TOWER WEST WING DOLMEN, HC-3,BLOCK-4, MARINE DRIVE CLIFTON, KARACHI - 75600, PAKISTAN
UAN +92-21-111-874-874 FAX +92-21-35184042 WEB http://trgpcorp.com
January 9, 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Subject: Filing of suit by The Resource Group International Limited against JS Bank
Limited, JS Global Capital Limited, DJM Securities Limited and others
Dear Sir,
We hereby convey the following information:
The Resource Group International Limited ("TRG International") has filed Suit no. 19 of 2023 before the Sindh High Court at Karachi against JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited, DJM Securities Limited, Muhammad Ziaullah Khan Chishti ("Zia Chishti"), Sarah Jennifer Pobereskin (Zia Chishti's wife) and others as TRG International believes that the lending arrangements entered into by Zia Chishti and Sarah Jennifer Pobereskin with JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited are in violation of the Stock Purchase Agreement binding on Zia Chishti that places restrictions on any transfer or encumbrance on shares of TRG Pakistan directly or indirectly owned by him.
The Honourable High Court of Sindh was pleased to pass an interim order on January 7, 2023 in the abovementioned proceedings, restraining JS Bank Limited (including its Bahrain Branch), JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited from creating any third party interest in any manner whatsoever in relation to the Company's securities pledged by Zia Chishti and Sarah Jennifer Pobereskin wither them, till the next date of hearing.
A copy of the said order is enclosed herewith for ready reference.
Sincerely,
For and on behalf of
TRG Pakistan Limited
__________________
Rahat Lateef 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 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 05:37:04 UTC.