News
Completion Of Sale Of The Remaining 3,733,000 Equity Shares In Vayhan Coffee Limited
BackApr 13, 2012
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| Description | Further to the announcement made on 6 December 2011, the Board of Directors of Food Empire Holdings Limited (the "Company") wishes to announce that the Company's wholly owned subsidiary, Future Enterprises Pte Ltd ("FEPL"), has today received Rs. 51,142,100 (approximately US$1,043,237) for the sale of its remaining 3,733,000 equity shares of Rs. 10 each in Vayhan Coffee Limited ("Vayhan Coffee") from Mr. DRSP Raju s/o Sri. D V Raju. Upon the sale of the remaining equity shares, FEPL and the Company has reduced its direct and indirect interest in Vayhan Coffee from 13.1% to 0%. The sale of the 2,000,000 12% fully convertible debentures of Rs. 15 each in Vayhan Coffee by FEPL is expected to be completed by 2Q FY2012. The Company will announce the sale of these convertible debentures upon completion. By Order Of The Board Tan San-Ju Company Secretary 13 April 2012 |
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