Future Capital Holdings (FCH) has sold the entire 10,00,000 fully paid-up equity shares of Rs 10 each held in its wholly owned subsidiary company namely Myra Mall Management Company (Myra Mall) to the Providence Educational Academy, in its capacity as a Trustee of AAA Holding Trust, a private trust. Pursuant to this divestment, Myra Mall Management Company has ceased to be a subsidiary company of Future Capital Holdings with effect from July 09, 2012.
Besides, the share sale, which has already been completed and effected as of the date hereof, has been undertaken on an ‘as is where is’ basis with the purchaser acquiring all of the assets and liabilities of Myra Mall for an enterprise value of Rs 97.77 crore.
Further, as a matter of abundant disclosure, it is clarified that the Purchaser Trust belongs to Mr. Jaydev Mody and family and is not an affiliate of either the Future Group or Cloverdell investment.
Future Capital Holdings is engaged into capital management and investing business. This non banking financial company is part of Future Group. FCH is amongst the fastest growing financial services company in India, with presence in asset advisory, retail financial services and proprietary research.
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