House of Pearl Fashions Ltd has informed that Multinational Textiles Group Ltd, Mauritius, a wholly owned subsidiary of the Company, has entered into a agreement for purchase 1,87,500 ordinary shares of USD 1 each (being 75% of the issued ordinary shares) and 31,90,000 Redeemable Preference Shares of USD 1 each (being 100% of issued preference shares) of Simple Approach Ltd., Hongkong.Simple Approach is engaged into marketing and distribution of apparels and is supplying to value added mid market retailers in UK and USA.
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