Premco Global Limited updates on subsidiary

The Board of Directors of Premco Global Limited have accorded approval to Subsidiary Company i.e. Premco Global Vietnam Co Ltd (PGVCL) to repay the Capital Contribution of its deceased shareholder at a mutually agreed price and make necessary amendments in its Charter & Investment License which will transform the type of enterprise of PGVCL from Limited Liability Company with two members to one member limited liability which would result in Subsidiary Company being converted into Wholly Owned Subsidiary Company. The said was subject to receipt of revised Investment Licence and statutory clearance from Government of Vietnam.

PGVCL has received revised Investment licence as approved by Government of Vietnam thereby resulting in transformation of the type of enterprise of PGVCL from Limited Liability Company with two members to one member limited liability resulting in Subsidiary Company namely PGVCL being converted into Company's Wholly Owned Subsidiary Company.

Premco Global Vietnam Company Limited was incorporated on 29th June 2015 under Law of Investment in Vietnam and is a subsidiary company of Premco Global Limited. The Company is engaged in business of manufacturing elastic tapes.

Shares of PREMCO GLOBAL LTD. was last trading in BSE at Rs. 351.00 as compared to the previous close of Rs. 331.00. The total number of shares traded during the day was 2039 in over 43 trades.

The stock hit an intraday high of Rs. 354.00 and intraday low of 340.00. The net turnover during the day was Rs. 713395.00.

Source : Equity Bulls

Keywords

PREMCOGLOBAL INE001E01012 Subsidiary PremcoGlobalVietnamCompany