Material Information of First Treet Manufacturing Modaraba

Karachi, First Treet Manufacturing Modaraba informed Pakistan Stock Exchange in continuation of their previous announcement of Modaraba on June 17, 2021 regarding signing of Assets Sale/Purchase Agreement for the sale of freehold land measuring 18 kanal 11 Marlas, situated at Mauza Bhoobattiyaan, Tehsil Raiwind, District Lahore. They hereby inform that they have received the advance sale consideration of rupees 60 million.

Treet Corporation was setup in 1952 and is almost as old as the country itself. Companies within Group are Semi-Autonomous units responsible for their own budgeting, new products launch, market decisions and new venture exploration and pricing. Operating as strategic business units, they are treated as internal profit centers by the corporate headquarter i.e. Treet Corporation limited, the holding company. These business units develop their business strategies though independently from other businesses but are trained to remain in-tune with broader corporate business policies. Corporate strategy (by the Parent Company) seeks to develop synergies across business units by sharing and coordinating staff, making investments in these units and using them to complement other corporate business activities.

The symbol “FTMM” is being used by the stock exchange for the First Treet Manufacturing Modaraba.