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| Exchange Received Time 09/10/2017 09:02:30 Exchange Disseminated Time 09/10/2017 09:02:39 Time Taken 00:00:09 | Sub: Execution of Share Purchase Agreement
This is in furtherance to our letter no. SEC/056/2017-18 dated 5.10.2017 (copy enclosed) intimating Stock Exchanges with respect to sale of 77,158,778 equity shares of Rs. 10/- each, constituting 51.09% of the paid up share capital of Hypercity Retail (India) Ltd; to Future Retail Ltd; (Purchaser), subject to execution of binding agreements.
In connection with the above, we would like to now inform that the definitive agreement; that is the Share Purchase Agreement (SPA) dated October 8, 2017, has been executed by and between the Company, all other shareholders of Hypercity (Sellers) and Purchaser and Hypercity, in respect of sale of entire equity shareholding of Hypercity to Purchaser.
The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 with respect to SPA are given in Annexure A to this letter. |
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