Thursday May 14, 2026
Thursday May 14, 2026
Tuesday, 12 May 2026 06:29 - - {{hitsCtrl.values.hits}}
ACME Printing and Packaging PLC has proposed a Rs. 1.6 b reduction in stated capital to offset accumulated losses and restructure its balance sheet.
The company yesterday said its Board had resolved on 8 May to amend an earlier resolution passed on 10 March relating to the proposed capital restructuring exercise.
Under the proposal, the company’s stated capital will be reduced from Rs. 2.26 billion represented by 665 million ordinary shares to Rs. 665 million without altering the number of issued and fully paid ordinary shares.
The reduction will be carried out in accordance with Section 59(1) of the Companies Act No. 7 of 2007 and the company’s Articles of Association, subject to shareholder approval by special resolution at an Extraordinary General Meeting.
ACME said accumulated losses of Rs. 1.6 billion as at 28 February 2026 would be written off against the stated capital, reducing retained losses to approximately Rs. 9.2 million.
The company said the proposed capital reduction is intended to address its serious capital loss position.
The circular to shareholders and notice of meeting will be issued in due course, while the date of the Extraordinary General Meeting is yet to be announced.
The share price ended 10 cents down yesterday at Rs. 6.20. The company reported liabilities of Rs. 7.03 per share as of end-December 2025.
Lankem Ceylon was the top shareholder with a 53.82% stake as at end-December 2025 followed by Darley Butler and Co. Ltd. at 19.29% and Clovis Company Ltd. at 2.49%. The public float was 25.14%.
