TRG Pakistan Limited (PSX: TRG) has issued a stern reaction to what it called a malicious media campaign, designed to perpetuate misleading, false, and defamatory claims put forth by the company’s former CEO, Zia Chishti, through paid advertisements in the press.
In a notification released to PSX, TRG Pakistan expressed deep concerns over the proliferation of misleading, false, and defamatory information against it in the media. Some of these articles were also circulating on online media platforms and were the same in context.
The notification stated that TRG Pakistan believes this campaign is part of a continuous effort by Chishti, along with his associates and others acting in concert with him, to discredit the current management and certain directors of the company. Their ultimate goal, as stated, appears to be to illegally seize control of the company.
The backdrop of this ongoing feud traces back to Chishti’s resignation in November 2021. This followed sworn public testimony in the U.S. Congress by a former employee of Afiniti, revealing that Chishti was found liable in a US arbitration for harassment and assault.
In response, TRG Pakistan Limited asserts its commitment to protecting its shareholders and stakeholders. The company aims to ensure that Chishti does not unlawfully take control of the company or influence its operations, which they argue would be detrimental to the company’s value.
The company alerted its public shareholders and other stakeholders to only rely upon information disseminated by TRG Pakistan through official channels and not be influenced by the continued malicious and mala fide smear campaign being run against the company, its management, and certain directors by its former CEO, his associates, and other persons acting in concert with him.
