Karachi March 8 2024: Treet Corporation Board decieded to sell 100 million shares of Treet Battery Limited in market, according to company filing to the exchange.
Share price of Treet Battery Limited decline 49 paisa or 1.17 percent in todays trading at Pakistan Stock Exchange.
“The Board of Directors of Treet Corporation Limited (Company), have passed a Board resolution through circulation dated March 5, 2024, lo recommend to the shareholders of the Company, approval of disinvestment of eleven point three three four three percent (11.3343%) of the paid-up share capital of Treet Battery Limited (“TBL”), being a subsidiary of the Company, by way of sale of shares of TBL, in open market (through Pakistan Stock exchange)” states the notification.
“The sale will be done at the share price of TBL shares as on the date of sale, and/or through a Negotiated Deal Mechanism, at a price that may be deemed appropriate by the management of the Company, either in one lot or multiple lots as deemed fit by the management” notification added.
An extraordinary general meeting of the shareholders of the Company is scheduled to be held on Thursday, March 28, 2024 at 11:00 A.M. at 72-B, Quaid-e-Azam Industrial Estate, Lahore, the registered office of the Company.
