Future Lifestyle Fashions has transferred its Lee Cooper business to a wholly-owned arm Future Speciality 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 alloted 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.
Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.