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| Exchange Disseminated Time 18/03/2016 14:43:32 | Warren Tea Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 18, 2016 has approved the acquisition of a further 18,00,000 Equity Shares of Rs. 10 each at a price not exceeding Rs. 47 per share of Maple Hotels & Resorts Limited ('Maple'), an Associate Company (a Related Party) in which the Company already holds 47,00,000 Equity Shares of Rs. 10 each. The Net Asset Value per share of Maple as available from its latest published accounts is Rs. 45.56.
The transaction is at arms length basis and has been approved by the Audit Committee at its Meeting held earlier in the day on March 18, 2016. |
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