Tariq Glass and Lucky Core Successfully Complete Share Buyback for Joint Venture LTG

Karachi: Lucky TG (Private) Limited (LTG), the joint venture between Tariq Glass Industries Limited (TGL) and Lucky Core Industries Limited (LCI), has finalized its share buyback process as of July 23, 2024. This step comes as part of the strategic adjustments within the equity structure of the partnership.

According to information available from the Pakistan Stock Exchange (PSX), the buyback involved a portion of LTG’s shares, concluded under the regulations set by Section 88 of the Companies Act, 2017, along with the stipulations of Chapter IX of the Companies Regulations, 2024. Despite the reduction in outstanding shares, the ownership structure remains unchanged with TGL retaining a 49% stake and LCI holding a 51% share.

The companies have reported this activity in compliance with Sections 96 and 131 of the Securities Act, 2015, as well as the requirements of the Pakistan Stock Exchange Limited’s Rule Book. This announcement follows a series of communications referencing the ongoing status and adjustments within LTG, dating back to early 2022.

This information is intended for dissemination among TRE certificate holders and to maintain transparency regarding the joint venture’s corporate actions.