Apt Packaging Ltd approves capital reduction, rights issue

The Board of Directors of Apt Packaging Ltd at its meeting held on July 11, 2014, has reviewed the progress of the Draft Rehabilitation Scheme Submitted to the Operating Agency, Punjab National bank and Board for Industrial and Financial Reconstruction.

The Board considered the reduction of equity shares capital under the Draft Rehabilitation Scheme and considered the issue of fresh equity shares to the shareholders on rights basis.

The Board amended the Directors Report and Notice of the Annual General Meeting by incorporating the Capital Reduction and Rights issue matters.

The Board also considered the borrowing power given to Managing Director by the Board.

Source : Equity Bulls

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