Huhtamaki PPL Limited approves allotment of 2810000 Equity Shares on merger

The Allotment Committee of the Board of Directors of Huhtamaki PPL Limited at their meeting held on Thursday, 6th April, 2017, allotted 28,10,000 Equity Shares of Face Value of Rs. 2/- each (fully paid) to the shareholders of erstwhile Webtech Labels Private Limited (Webtech Labels), in the ratio of 281 (Two hundred Eighty One) equity shares of Rs. 2/- each of the Company, for every 1 (one) equity share of Face Value of Rs. 10/- each held by them in Webtech Labels, in pursuance of the Scheme of Arrangement/Amalgamation of Webtech Labels Private Limited with the Company.

Consequent to the above allotment, the paid up equity share capital of the Company has increased from Rs. 14,54,23,868/- consisting of 7,27,11,934 equity shares of face value Rs. 2/- each to Rs. 15,10,43,868/-, consisting of 7,55,21,934 equity shares of face value Rs. 2/- each.

Shares of Huhtamaki PPL Limited was last trading in BSE at Rs.255.6 as compared to the previous close of Rs. 256.25. The total number of shares traded during the day was 7224 in over 228 trades.

The stock hit an intraday high of Rs. 261 and intraday low of 254. The net turnover during the day was Rs. 1862908.

Source : Equity Bulls

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