Future Lifestyle Fashions transfers Lee Cooper business to arm

Future Lifestyle Fashions has transferred its Lee Cooper business to a wholly-owned arm Future Specialty Retail (FSRL) by way of a slump exchange on a going concern basis. FSRL shall inter-alia carry on the Lee Cooper business. FSRL has issued and allotted 400 compulsory convertible preference shares of face value of Rs 910 each and 150 optionally convertible debentures of face value of Rs 1,00,00,000 each to the company. Further, there will be no change in the shareholding pattern of the company.