PVR Limited announced the continuation of its disclosure dated July 10, 2018 about execution of a non-binding memorandum of understanding on July 10, 2018 with Al-Futtaim Private Company LLC for exploring opportunities to jointly develop cinema business in the Middle East and North Africa (MENA) region ad subject to a feasibility study, entering into a joint venture agreement (proposed transaction). Post conduct of a feasibility study and necessary evaluation, the management of the company has decided not to proceed with the proposed transaction and has decided against deploying any capital in the MENA region for the time being. The MoU with Al-Futtaim stands automatically terminated in accordance with the terms thereof.