Ras Propack Lamipack to undergo financial restructuring

Ras Propack Lamipack Ltd has announced that the Board of Directors of the Company at its meeting held on September 20, 2006, has noted that in spite of having a full order booked position the Company was not able to implement the same in view of its deteriorating financial condition. Looking at this, a decision was taken to pursue and to accept one of the proposals which are under consideration / negotiation for the financial restructuring with the Management. This financial restructuring would entail fresh infusion of funds and could also lead to a change of Management. The Company Management plans to undertake this exercise at the earliest to take advantage of the buoyant FMCG Market.

Source : Equity Bulls

Keywords