Oricon Enterprises Limited has informed the Exchange about Copy of Newspaper Publication
ORICONENT · price
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Awaiting price reaction for this filing.
Oricon Enterprises has submitted copies of a newspaper advertisement published on August 13, 2025 in The Free Press Journal and Navshakti. The advertisement is a Notice of Postal Ballot sent to members on August 12, 2025. The Postal Ballot seeks shareholder approval through a Special Resolution for the sale and transfer of the company's Metal Crown Seals and Roll-On Pilfer Proof Closures business (manufacturing, trading and sale) by way of slump sale on a going concern basis to Guala Closures (India) Private Limited. E-voting will run from August 18, 2025 to September 16, 2025, with the cut-off date being August 8, 2025. Results are to be declared on or before September 18, 2025.
This is a significant corporate action — Oricon is exiting its metal packaging/closures business via slump sale, which could lead to a sizeable one-time inflow but also reduces the company's future revenue base. Shareholders should monitor the deal value, use of proceeds and the outcome of the postal ballot, as approval will be key to completing the transaction.