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Pro-Pac Packaging Ltd (PPG.AX)

PPG.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pro-Pac Packaging Revises Unaudited FY19 EBITDA Guidance To About $28 Mln
Monday, 17 Jun 2019 06:34pm EDT 

June 18 (Reuters) - Pro-Pac Packaging Ltd ::INDUSTRIAL BUSINESS HAS BEEN NEGATIVELY IMPACTED BY A DETERIORATION IN TRADING CONDITIONS DURING SECOND HALF OF FY19.REVISED ITS UNAUDITED FY19 EBITDA (BEFORE SIGNIFICANT ITEMS) GUIDANCE TO AROUND $28.0 MILLION.FLEXIBLES AND RIGID BUSINESSES ARE TRADING BROADLY IN LINE WITH EXPECTATIONS.INDUSTRIAL BUSINESS HAS BEEN NEGATIVELY IMPACTED RESULTING IN LOWER THAN EXPECTED REVENUES AND MARGINS FOR H2 OF FY19.  Full Article

Pro-Pac Packaging Says Manufacturing Site In Kewdale Suffered A Fire
Friday, 7 Jun 2019 02:14am EDT 

June 7 (Reuters) - Pro-Pac Packaging Ltd ::MANUFACTURING SITE IN KEWDALE, WESTERN AUSTRALIA SUFFERED A FIRE YESTERDAY.APPEARS TO HAVE BEEN NO MATERIAL DAMAGE TO FILM EXTRUSION MANUFACTURING FACILITIES.WILL BE SHORT TERM CHALLENGES TO RETURN TO FULL OPERATION, LONG TERM CAPABILITY OF SITE DOES NOT APPEAR TO HAVE BEEN COMPROMISED.SITE EVACUATION PROCEDURES WERE IMPLEMENTED IMMEDIATELY, AND ALL PERSONNEL ARE SAFE WITH NO INJURIES REPORTED.  Full Article

Pro-Pac Packaging Appoints Tim Welsh As CEO
Tuesday, 16 Apr 2019 03:11am EDT 

April 16 (Reuters) - Pro-Pac Packaging Ltd ::TIM WELSH HAS BEEN APPOINTED CHIEF EXECUTIVE OFFICER.  Full Article

Pro-Pac Packaging Says Jonathan Ling Joins As Non-Executive Independent Chairman
Sunday, 7 Apr 2019 09:34pm EDT 

April 8 (Reuters) - Pro-Pac Packaging Ltd ::JONATHAN LING JOINED AS NON-EXECUTIVE INDEPENDENT CHAIRMAN.  Full Article

Pro-Pac Packaging Chief Executive Officer Grant Harrod Resigns
Monday, 26 Nov 2018 04:47pm EST 

Nov 27 (Reuters) - Pro-Pac Packaging Ltd ::CHIEF EXECUTIVE OFFICER, GRANT HARROD, HAS TENDERED HIS RESIGNATION.  Full Article

Pro-Pac Packaging announces $177.5 million merger with IPG
Sunday, 10 Sep 2017 07:15pm EDT 

Sept 11 (Reuters) - Pro-pac Packaging Ltd ::Merger with IPG and underwritten equity raising.Pro-Pac has entered into a share sale agreement to merge with Integrated Packaging Group for $177.5 million.Rupert Harrington to be appointed to Pro-Pac board as a non-executive director from completion of merger.Pro-Pac has executed a term sheet with ANZ Bank regarding provision of debt financing for transaction.Merger will be funded through $60.0 million Pro-Pac shares, $54.8 million fully underwritten equity raising and $70 million from a new debt facility.Merger expected to be 18% EPS accretive on a pro-forma FY18 basis.Announces fully underwritten equity raising of $54.8 million via a 2 for 3 non- renounceable rights issue at price of $0.34 per new share.  Full Article