Williamson Magor Group exits WPIL

Williamson Magor & Company Ltd has announced that three Companies belonging to Williamson Magor (WM) Group have sold 13,98,616 Equity Shares of Rs 10/- of WPIL Limited on July 07, 2006 by virtue of which WM Group has exited from WPIL Ltd and WPlL Ltd is no more a part of WM Group of Companies. The stake sold by WM Group Companies in WPIL Ltd has been acquired by Hindustan Udyog Group of Kolkata who were the co-promoters of WPIL Ltd during last few years. Exiting from WPIL Limited is in line with the decision of the WM Group to exit from certain non-core activities. The Directors nominated by WM Group on the Board of WPIL Ltd will soon resign and the Registered Office of WPIL Ltd will be shifted shortly from Four Mangoe Lane, Surendra Mohan Ghosh Sarani, Kolkata i.e. the Headquarters of WM Group.

Source : Equity Bulls

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