Karachi 20, June 2022: TRG Pakistan Limited in a notice filed to the PSX has denied the news that Securities and Exchange Commission of Pakistan has started an investigation into matters of TRG Pakistan Limited on a complaint received from a director of the Company against a number of serious irregularities by the management of TRG.
It is worth mentioning to note that, TRG confirmed that, It has come to TRG Pakistan Limited’s (“TRG” or the “Company”) attention that a recent online article has referenced a complaint filed with the Securities and Exchange Commission of Pakistan (the “SECP”) by one of the Company’s directors.
While one of the ten directors of the Company, Asad Nasir, has filed a complaint with the SECP against other current and former directors primarily regarding matters voted on in December 2021 where the Complainant was the sole dissenting director, the Company strongly believes the complaint to be entirely without merit and is in the process of responding to the complaint.
The Company is further of the position that the contents of the online article are inaccurate and misleading, and cautions investors not to readily rely on unsubstantiated articles and rumors.
Who is Asad Nasir?
Asad Nasir is currently serving as Group Head, Ecosystem Development and Sustainable Finance at JS Bank. He has over 20 years of diversified financial services experience including Private Equity, Corporate Finance Advisory, Capital Market Advisory, Transaction Services and Audit. Prior to his current role, Asad has served as the Chief Investment Officer for JS Private Equity and the Pakistan Catalyst fund, a USD 50 million private equity fund which included USAID in its investors. Before that Asad was Head, Corporate Finance at JS Global Capital, a leading Pakistani securities brokerage and investment banking firm. At JS Global, Asad advised some of Pakistan’s leading companies on fundraising, mergers and acquisitions and corporate restructurings. Asad commenced his professional career with Deloitte UK, working as part of the audit & assurance and corporate finance teams. He is an FCA with the Institute of Chartered Accountant in England and Wales and holds a BSc (Hons) in Accounting from the University of Hull.
