| Rajshree Polypack Limited has informed the Exchange about Board Meeting held on 19-Apr-2022 to consider Other business mattersIn compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (￢ﾀﾜSEBI Listing Regulations￢ﾀï¾), this is to inform that the Board of Directors of Rajshree Polypack Limited (￢ﾀﾜRPPL￢ﾀï¾) at their meeting held on Tuesday, April 19, 2022, have accorded in-principle approval to RPPL for entering into a ￢ﾀﾘjoint venture agreement￢ﾀﾙ with Mr. Rajesh Gandhi and Mrs. Geeta Gandhi of the Oracle Group for joint manufacturing, sale and distribution of paper packaging products such as paper cups for hot and cold beverages and paper containers for food packaging (￢ﾀﾜProject￢ﾀï¾) through Olive Ecopak Private Limited (￢ﾀﾜOEPLï¿¢ï¾€ï¾ / ￢ﾀﾜJV Company￢ﾀï¾).Accordingly, RPPL proposes to acquire 50.10% equity stake in OEPL by way of subscription to fresh equity shares, thereby making OEPL, a subsidiary of the Company (￢ﾀﾜProposed Investment￢ﾀï¾).In this regard, please find enclosed herewith, Disclosure containing the details pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 as ￢ﾀﾜAnnexure 1￢ﾀï¾.With regard to the terms and conditions of the Proposed Investment in the Joint Venture, RPPL is in the process of entering into Definitive Agreements, at which time it shall make further disclosures in terms / in compliance with Regulation 30 of the SEBI Listing Regulations.We request you to take the above information on your record. The meeting of the Board of Directors of the Company was commenced at 01.04 pm and concluded at 02.00 pm. |
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