• Conducting strategic review, including asset sales and actions to restore profitability
• Appointed advisors to assist with transactions
• Negotiating with several bidders on potential transactions
• Prioritizing speed, certainty, and best outcome for stakeholders

Pro-Pac Packaging Limited (ASX: PPG) has provided an update on the progress of its strategic review and the status of its annual disclosures. The company announced it is conducting a strategic review, which includes a number of transactions involving the sale of assets and actions to restore profitability. Pro-Pac has appointed Flagstaff and Lewis Advisory to assist with these transactions, and Leaders on Demand for the transformational projects. The company stated that material progress has been made on all fronts, and it is currently negotiating with several bidders on a number of potential transactions. Pro-Pac is prioritizing bidders who offer speed, certainty, and provide the best outcome for the company, its employees, suppliers, and customers. The proposed transactions are likely to materially benefit the company's liquidity position. However, no transactions have reached an acceptable level of certainty for a specific announcement to be made. The company anticipates providing an update in the coming weeks. Pro-Pac also announced that its major shareholder, Bennamon Pty Ltd, has provided an additional secured loan facility of up to $3 million, of which $1.2 million has been drawn to support the company's liquidity position. The company will not release its Appendix 4E and Annual Report for the year ended 30 June 2025 until one or more of the proposed transactions is sufficiently progressed to finalize the directors' assessment of the future funding requirements. Shareholders should note that the company's shares will be automatically suspended by the ASX from Monday, 1 September 2025, until the accounts are released and trading is reinstated.