Treet Corporation Approves Five-Year Business Plan and Sale of Techlogix Shares

Lahore: The Board of Directors of Treet Corporation Limited, in their meeting on July 18, 2024, have passed significant resolutions including the approval of a Five-Year Business Plan and the sale of shares in Techlogix International Limited.

In a strategic move aimed at restructuring its investment portfolio, Treet Corporation Limited has decided to sell its holdings in Techlogix International Limited. The company currently holds 711,435 shares, which accounts for 0.697% of Techlogix’s paid-up capital. The shares will be sold at an offer rate of $0.21 each, totaling approximately $149,401.35. This decision follows the Board’s approval, and the company will next execute a Shares Sale Purchase Agreement to formalize the transaction.

According to information available from the Pakistan Stock Exchange (PSX), this corporate decision is part of a broader strategic vision encapsulated in the newly approved Five-Year Business Plan spanning from 2024 to 2029. The plan was ratified during the same board meeting, signaling Treet Corporation’s commitment to long-term growth and restructuring.

Stakeholders and TRE Certificates Holders of the exchange have been notified of these developments as required by corporate governance standards.