Outcome of board meeting of Future Consumer Enterprise
Held on 15 May 2015
Future Consumer Enterprise announced that the Board of Directors of the Company at its meeting held on 15 May 2015, inter alia, has considered and approved :1. Discontinuance of the non-core business activity of beauty and wellness undertaken by its wholly owned subsidiary Star and Sitara Wellness.
2. To make investment in MNS Foods ("MNS Foods") by way of subscription to equity shares constituting 51% of the paid-up share capital of MNS Foods.
The business objects of MNS Foods is to undertake the activities of manufacturing, branding, selling and distribution of various kinds of wafer cream biscuits, chocolate enrobed wafer biscuits and confectionaries.
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