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PANAMA PETROCHEM LTD. - GDR Issue

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Panama Petrochem Ltd has informed BSE that pursuant to the approval received from the shareholders of the Company at the Annual General Meeting held on September 25, 2010, the Company will open its GDR Issue for subscription on July 18, 2011 and close the same on July 20, 2011 or as soon as the issue is fully subscribed. The Company expects to raise US$ 14 million from this offering.  Each GDR represents five (5) underlying shares in the Company.


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