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| Exchange Disseminated Time 12/08/2016 16:59:09 | Future Market Networks Ltd has informed BSE that the Board of Directors at their meeting held on August 12, 2016, inter alia, transacted the following:
1. The Board approved transfer/assignment of the rights of the Company on commercial area admeasuring 50,000 sq ft of constructed space in a commercial complex situated at Ahmedabad, viz. "10 Acres" - "Ahmedabad City Mall for a total consideration of Rs. 23Cr. The said space is part of a total constructed area admeasuring 222,432 sq ft which was entitled with K B Mall Management Co Ltd (KB Mall), erstwhile 100% subsidiary, which subsequently amalgamated with the Company pursuant to a scheme of amalgamation approved by Hon'ble High Court of Bombay. Accordingly all the rights with respect to the aforesaid premises along with other assets/immovable properties of KB Mall, transferred and vested with the Company.
2. Approved the Future Market Networks Limited - Employee Stock Option Scheme -2016 (FMNL - ESOS - 2016) in terms of SEBI regulations. The said scheme shall be subject to the approval of members in the ensuing Annual General Meeting. |
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