** Shares of Papyrus Australia PPY.AX rise as much as 22.2% to A$0.011, their highest level since June 30
** The waste processor says that it will restructure its support functions; to outsource back-office and secretarial functions to Automic Group
** Appoints Daniel Schmidt as chief executive officer
** YTD, shares down 28.6%
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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