Announcement • May 30
JS Bank Limited (KASE:JSBL) acquired an additional 14.92% stake in TRG Pakistan Limited (KASE:TRG) for PKR 5.1 billion. JS Bank Limited (KASE:JSBL) acquired an additional 14.92% stake in TRG Pakistan Limited (KASE:TRG) for PKR 5.1 billion on May 21, 2026. A cash consideration valued at PKR 62.92 per share will be paid by JS Bank Limited for 81.358289 million shares. Before this acquisition JS Bank Limited and persons acting-in-concert were holding 78,622,164 shares i.e; 14.41% of the Company. After abovementioned acquisition through enforcement of security; our total shareholding in the company is 159,980,453 shares, which represent 29.33% of the total issued voting shares of the Company.
JS Bank Limited (KASE:JSBL) completed the acquisition of an additional 14.92% stake in TRG Pakistan Limited (KASE:TRG) on May 21, 2026. New Risk • May 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Pakistani stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (PK₨993k revenue, or US$3.6k). Announcement • May 12
The Resource Group International Limited Announces Dismissing of Appeals Filed Bermuda-Incorporated Greentree Holdings Limited, TRG International, and TRG Pakistan Limited Against June 2025 Ruling of the Sindh High Court The Resource Group International Limited had taken note of the short order of the Supreme Court of Pakistan dismissing the appeals filed by Bermuda-incorporated Greentree Holdings Limited, The Resource Group International Limited, and TRG Pakistan Limited against a June 2025 ruling of the Sindh High Court that cancelled the 30% shareholding held by Greentree Holdings Limited in PSX-listed TRG Pakistan. One practical effect of the cancellation of Greentree Holdings Limited's shares in TRG Pakistan would be a significant shift in voting influence within TRG Pakistan toward Mr. Zia Chishti, the company's former CEO and petitioner in the underlying Sindh High Court proceedings. The Resource Group International Limited has implemented multiple layers of governance and structural protections intended to safeguard its business, portfolio companies, and assets irrespective of developments at the TRG Pakistan level. TRG Pakistan holds a non-controlling interest in The Resource Group International Limited. Mr. Chishti's shares in The Resource Group International Limited were placed into receivership pursuant to an order of the Supreme Court of Bermuda in January 2026. The Resource Group International Limited remains confident in the resilience of its governance framework and in the ability of its board, management, and stakeholders to protect the long-term interests of the enterprise and its portfolio companies. Over the past three years, The Resource Group International Limited and related parties have prevailed in multiple arbitration and court proceedings involving Mr. Chishti in the United States and Bermuda, including matters relating to pledges of TRG Pakistan shares, creditor enforcement, asset preservation, and the applicability and scope of releases and claims asserted by him. The Resource Group International Limited will continue to pursue all lawful and appropriate measures to protect its business, investments, portfolio companies, employees, and stakeholders. 