Mcleod Russel - Acquisition Of Controlling Stake Of The Moran Tea Company (India) Ltd

Mcleod Russel India Ltd has informed that pursuant to the Share Purchase Agreement dated January 18, 2007 entered into between the Company and Moran Holdings Plc, U.K., the Company on October 05, 2007 has acquired 15,20,000 Equity Shares of The Moran Tea Company (India) Ltd. Earlier the Company had acquired 3,00,493 Equity Shares of The Moran Tea Company (India) Ltd through an Open Offer made pursuant to Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. By virtue of the aforesaid acquisitions the Company now hold 18,20,493 Equity Shares of Rs 10/- each representing 86.69% of the Paid-up Capital of the said Company. In view of this The Moran Tea Company (India) Ltd has become a subsidiary of the Company.