TRG International Statement on Pakistan Court Short Order

WASHINGTON, May 11, 2026 /PRNewswire/ -- The Resource Group International Limited ("TRG International" or the "Company") has taken note of the short order of the Supreme Court of Pakistan (the "SCP") dismissing the appeals filed by Bermuda-incorporated Greentree Holdings Limited ("GTH"), TRG International, and TRG Pakistan Limited ("TRG Pakistan") against a June 2025 ruling of the Sindh High Court ("SHC") that cancelled the 30% shareholding held by GTH in PSX-listed TRG Pakistan. TRG Pakistan's principal asset is a non-controlling interest representing approximately 45% of the voting power in TRG International.

The SCP noted in its order that, although judgment had been reserved on February 3, 2026, only a short order would be issued at this stage, with detailed reasons to follow. While awaiting the detailed judgment in order to evaluate its legal and strategic options, TRG International expresses deep concern regarding the apparent implications of the short order, which appears to nullify an approximately US$90 million foreign investment into Pakistan. The Company believes this outcome appears to be a departure from accepted principles of corporate jurisprudence in a manner that raises significant concerns for global investors.

One practical effect of the cancellation of GTH'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 SHC proceedings.

TRG International believes that any renewed association of Mr. Chishti with the broader TRG platform could create serious reputational, governance, commercial, and stakeholder risks for TRG-related entities in light of prior proceedings and arbitral findings involving him. The company has therefore 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 TRG International. Separately, Mr. Chishti's shares in TRG International were placed into receivership pursuant to an order of the Supreme Court of Bermuda in January 2026. TRG International therefore 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, TRG International 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 Company believes that the uncertainty and reputational consequences arising from a possible control of TRG Pakistan by Mr. Chishti may materially impair stakeholder confidence and negatively impact perceptions of corporate governance associated with Pakistan's technology sector. In TRG International's view, a constructive and orderly resolution that removes the prospect of renewed influence by Mr. Chishti over TRG-related entities would best preserve long-term value for all stakeholders.

TRG International will continue to pursue all lawful and appropriate measures to protect its business, investments, portfolio companies, employees, and stakeholders.

About TRG International

TRG International is a global technology holding company focused on incubating and growing technology-enabled services businesses. Its portfolio companies support approximately 40,000 employees globally. The company is committed to strong governance practices and the sustainable development of its global portfolio.

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SOURCE The Resource Group International Limited