The Board of Directors (BoD) of Packages Limited (PSX: PKGS) has accorded its approval for injection of up to Rs. 3 billion into its 100 percent wholly owned subsidiary StarchPack (Private) Limited (StarchPack).
The BoD has accorded its approval for injection of up to Rs. 3 billion in various forms including ordinary share capital, subordinated debt and conversion of any prior loan to equity into StarchPack, the company said in a notice to the Pakistan Stock Exchange (PSX) on Friday.
The injection is subject to compliance with applicable laws and fulfilment of applicable corporate and regulatory approvals, if any.
StarchPack is a wholly owned subsidiary of the company and is involved in the manufacturing and sale of corn-based starch products, its derivatives and by-products.
Reference Link:- https://propakistani.pk/2024/12/27/packages-limited-to-inject-rs-3-billion-into-starchpack/