TREET approves a cross-corporate guarantee up to PKR 1.5 billion

In a notification sent to PSX on 06/06/2024, Treet Corporation Limited (TREET) has announced that it recommends business matters to shareholders and approves a cross-corporate guarantee of up to PKR 1.5 billion.

The Board of Directors of Trect Corporation Limited, through a Board Resolution dated June 04, 2024, has approved and recommended several business matters to shareholders, with a formal notice of the Extraordinary General Meeting (EOGM) to be shared shortly. Key points include:

1. Capital Injection in UAE Subsidiary: Establishment of Treet Trading LLC in Dubai, with an initial capital injection of USD 100,000 for 100,000 shares at USD 1 each.
2. Corporate Guarantee to Loads Limited: Approval of a cross-corporate guarantee up to PKR 1.5 billion to support working capital facilities for Loads Limited.
3. EOGM Notice and Agenda: The EOGM will be held on June 28, 2024, at 10:00 AM at 72-B, Industrial Area, Kot Lakhpat, Lahore. Book closure dates are June 21-28, 2024. Formal notice with agenda items will be communicated soon.

TREET shares were last trading at Rs 16.07 today.

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⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →