Pearl Polymers Limited completes sale of business undertaking

Pearl Polymers Limited had earlier announced regarding sale and transfer of company's business undertaking{s} engaged in manufacturing, marketing, and sale of rigid plastic packaging solutions for sale, gift or supply to other business entities for packaging of products ("B2B Business") on a going concern basis, by way of a slump sale, for a lump sum consideration without values being assigned to any individual assets and liabilities, to Manjushree Technopack Limited ("MTL") on such terms and conditions as provided under the Business Transfer Agreement ("BTA") dated September 21, 2020 executed between the Company, MTL, Mr. Chand Seth, Mr. Amit Seth, Mr. Varun Seth and Mr. Udit Seth.

Pursuant to the satisfactory completion of all the conditions precedent and closing actions (as agreed between the parties under the BTA), please note that the transaction Le. sale of B2B Business by the Company to MTL is consummated on April 12, 2021. The Board of Directors of the Company at its meeting held on April 12, 2021 also noted the consummation of the transaction with effect from April 12, 2021.

Shares of PEARL POLYMERS LTD. was last trading in BSE at Rs. 15.97 as compared to the previous close of Rs. 14.52. The total number of shares traded during the day was 10,729 and the deliverable quantity was 10,130 shares.

The stock hit an intraday high of Rs. 15.97 and intraday low of Rs. 14.42.

Source : Equity Bulls

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