Clovis Company Limited of Singapore which is the largest single shareholder of Acme Printing and Packaging PLC where a rights issue is pending has renounced the entirety of its rights entitlement to the Central Depository System of the CSE, Acme said in a stock exchange filing.
These rights were subsequently sold in the market on October 30 at prices ranging from between cents 30 to cents 70 per right.
The filing said that Clovis has not sold any of their shares but only sold their rights entitlements.
Acme has floated a one for one rights issue at Rs. 12 per share to infuse cash into the company which needs new equipment and downsizing of the workforce.
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These rights were subsequently sold in the market on October 30 at prices ranging from between cents 30 to cents 70 per right.
The filing said that Clovis has not sold any of their shares but only sold their rights entitlements.
Acme has floated a one for one rights issue at Rs. 12 per share to infuse cash into the company which needs new equipment and downsizing of the workforce.
www.island.lk
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