Hong Kong step-down subsidiary transfers entire stake in UK arm; entity ceases to be step-down subsidiary
Northern Apparel Ltd, Hong Kong (a step-down subsidiary) has transferred its entire stake in Northern Brands Ltd, UK.
- Consideration received
- £1 (~₹108.92)
- Turnover of transferred unit
- ~₹3,624,007.06, 0.0024% of consolidated turnover
- Net worth of transferred unit
- ~₹(12,388,920.28)
Hong Kong step-down subsidiary transfers its UK stake
Northern Apparel Limited, a step-down subsidiary of the company in Hong Kong, has transferred its entire stake in Northern Brands Limited, a step-down subsidiary in the United Kingdom. The transfer was effective October 8, 2026, and the company was informed on October 9, 2026.
Consequent to this transfer, Northern Brands, UK ceases to be a step-down subsidiary of the company effective October 8, 2026.
Transaction facts
- Buyer: Northern Apparel Limited, Company Number 17028030, registered office 112 Bolling Road, Ilkley, LS29 8PN, United Kingdom
- Consideration received from the sale/disposal: £1 (~₹108.92)
- Agreement date and expected completion date: October 8, 2026
- The disclosure records that the transaction does not fall within related party transactions
Size of the unit being transferred
- Turnover: ~₹3,624,007.06 (GBP 28,509.00)
- Share of consolidated turnover: 0.0024%
- Net worth: ~₹(12,388,920.28) (GBP (97,460.00)), shown in brackets
- Share of consolidated net worth: Not Applicable
What the company says about impact
The company clarifies that the transaction is not expected to have any material impact on its financial position, business operations, or financial performance.
How to read this
This is an intimation of a change in the group's holding structure at an overseas step-down subsidiary level. The entity being transferred contributed turnover of ~₹3,624,007.06, or 0.0024% of consolidated turnover, and the consideration received is £1 (~₹108.92). The company's own assessment is that this does not materially affect its finances or operations. The practical effect stated in the update is that Northern Brands, UK is no longer a step-down subsidiary of the company.
More numbers
- Turnover of Northern Brands Ltd, UK~₹3,624,007.06
- Turnover of Northern Brands Ltd, UK in GBPGBP 28,509.00
- Percentage of consolidated turnover0.0024%
- Net worth of Northern Brands Ltd, UK~₹(12,388,920.28)
- Net worth of Northern Brands Ltd, UK in GBPGBP (97,460.00)
- Consideration received (GBP)£1
- Consideration received (INR equivalent)~₹108.92
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