KOCHI:
The chief promoter of Sree Sakthi Paper Mills Ltd, S.Rajkumar has enhanced his holding in the company by acquiring shares from associate promoters in the company.
In a bulk deal, S.Rajkumar on 10 th July 2018 has bought 20,07,881 equity shares @ Rs.10 per equity share and 3,25,200 preference shares from associate promoters. Following the move, the equity shares holding of S.Rajkumar has increased from 35.47% to 46.49% and his preference shares holding has gone up from 36.26% to 39.51%.
Sree Sakthi Paper Mills Limited is an eco-friendly company manufacturing Kraft Paper till June 2016. The Kraft Paper business was closed down during June 2016 as per orders passed by High court and promoters have decided to close the paper business and start
logistics activity.
Company has changed its object clause of its Memorandum of Association to start new business activity of Logistics Business.
Company has also permission from Government of Kerala to do Logistics Activity. The promoters of Sree Sakthi Paper Mills Limited has contributed irrespective of its problems to the victims of the recent flood disaster.
