Future Consumer Enterprise has informed that the Board of Directors of the Company at its meeting held on April 19, 2014, have subject to obtaining of necessary consents and compliances with laws as may be applicable, approved making of an investment by way of setting up a wholly owned subsidiary at UAE, which shall be predominantly engaged in the business of export of own-brand products of the Company and import/export of other branded products in the food, processed food, other agri products and FMCG category. The envisaged investment of the Company in setting-up the aforesaid wholly-owned subsidiary company is AED 1.50 million.
The above information is a part of company’s filings submitted to BSE.
