Withdrawal of Scheme of Amalgamatiom amongst Future Market Networks Limited and others-Intimation In Terms of Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
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Future Market Networks Limited has announced the withdrawal of a proposed scheme of amalgamation involving the company and Metawear Limited. The Board of Directors of Metawear Limited decided not to proceed with the scheme and resolved to withdraw it. Future Market Networks' Board took note of this decision at their meeting held on 19th May 2026. An application for withdrawal will be filed with the National Company Law Tribunal (NCLT), Mumbai Bench. This reverses an earlier disclosure made on 10th February 2025 regarding the proposed amalgamation.
The cancellation of this amalgamation deal is a negative development for shareholders who may have anticipated synergies or consolidation benefits from the merger. The stock may see neutral-to-negative reaction as the consolidation plan is off the table.