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S.P. Apparels Limited Capital/Financing Update 2021
60678_rns_2021-09-02_5e8a91af-4c96-486d-b0ad-14c2ea93c47a.pdf
Capital/Financing Update
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Regd. Office 39-A, Extension Street, Kaikattipudur, AVINASHI 61 654, Tamil Nadu, India. Phone +91-4296-714000 E-mail spindiau s-p-apparels.com Web www.s-p-apparels.com CIN No.: L18101TZ2005PLC012295
Date: 02.09.2021
| TheGeneralDeputyManager | TheViceAsst.President |
|---|---|
| ofServicesDepartmentCorporate | ListingDepartment |
| BSELimited | ofStockNationalIndiaLimited,Exchange |
| NewFloor,1*TrainingRing, | 5"Plaza,Floor,Exchange |
| RotundaPJ.Tower,building, | PlotNo.C/1,Block, |
| DatalStreet.Fort, | KurlaBandraBandra(E),Complex, |
| Mumbai400001 | Mumbai400051 |
| StockCode540048 | SPALStockCode |
| Ref:of30SEBIRegulation(Listing | DisclosureandObligationRequirements) |
| 2015 | Regulations |
| Sub:ofTransferonRetailUpdates | OwnedtoWholly |
| OperationsSubsidiary |
Dear Sir/Madam,
In continuation to our Board Meeting outcome filed with exchanges on 13.08.2021 and 16th Annual General Meeting Notice along with Annual Report filed with exchanges on 21.08.2021 regarding formation of wholly owned subsidiary company for the purpose of transferring of retail operations to the wholly owned subsidiary company, we would like to inform that the transfer will happen by selling of assets and taking over the liabilities of the retail division by the wholly owned subsidiary company. The money which is due to the holding company on transfer of assets liabilities. will be paid by the wholly owned subsidiary company only on raising of sufficient equity money by the wholly owned subsidiary company. Till the due is repaid it will be treated as long term debt given by the parent company. In the retail division total assets including inventory. store assets, warehouse assets, rental deposits other currents assets less working capital limits, trade payable other long-term liabilities is around Rs. 64 Crores. The investments in Crocodile Products Private Limited other long term assets will remain with the Parent Company.
This is for your information and record.
Thanking You.
Yours faithfully,
For S.P.Apparels Limited
K.Vinodhini Company Secretary and Compliance Officer