May 6, 2021 (MLN): The Board of Directors of Roshan Packages Limited (RPL) has decided to make a further long-term investment of Rs81.675mn by acquiring 7.425mn ordinary shares of the face value of Rs10 each at a price of Rs111 per share of Roshan Sun Tao Paper Mills (Pvt.) Limited (RSTPML).
RSTPLML is an associated/subsidiary company of RPL. The shares will be purchased from Shandong Yongtai Paper Mills Limited (SYPML) and its Directors, as full and final settlement for the aforesaid shares and outstanding loan/payable of Rs32.433mn to SYPML by RSTPML and as per other terms and conditions disclosed to the members.
The Board further empowered and authorized the company’ CEO or Secretary to do all acts, matters, deeds, and things, take any or all necessary actions including signing and execution of the agreement(s), and to complete all legal formalities as may be necessary or incidental for the purpose of implementing the aforesaid resolution.
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