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Pact Group Holdings ( (AU:PGH) ) has provided an update.
Pact Group Holdings Ltd has announced its intention to delist from the Australian Securities Exchange, citing reasons such as low liquidity, a concentrated share register, and compliance burdens. This decision has been met with opposition from a shareholder, Mr. Jeremy Raper, who claims the reasons for delisting are misleading and not in the best interests of minority shareholders. The shareholder has requested interim orders to delay the Extraordinary General Meeting (EGM) and prevent further share acquisitions by Bennamon Industries, which holds a majority stake in the company.
More about Pact Group Holdings
Pact Group Holdings Ltd operates in the packaging and manufacturing industry, focusing on providing sustainable packaging solutions and related services. The company is listed on the Australian Securities Exchange (ASX) and has a significant market presence due to its extensive shareholding by Bennamon Industries Pty Ltd and its associated entities.
Average Trading Volume: 41,805
Technical Sentiment Signal: Sell
Current Market Cap: A$334M
See more data about PGH stock on TipRanks’ Stock Analysis page.