House of Pearl Fashions has announced that Multinational Textiles Group, Mauritius, a wholly owned subsidiary of the company has entered into a agreement for purchase 1,87,500 ordinary shares of US$ 1 each (being 75% of the issued ordinary shares) and 31,90,000 redeemable preference shares of US$ 1 each (being 100% of issued preference shares) of Simple Approach, Hongkong. Simple Approach is engaged into marketing and distribution of apparels and is supplying to value added mid market retailers in UK and USA.The company made this announcement after the trading hours on Monday, 10 November 2008.
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