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Assam Company (India) Ltd. Company History and Annual Growth Details

YEAR EVENTS
1977 - The Company was incorporated on 15th March in Assam and the
Certificate of Commencement of business was obtained on 28th
June. The scheme of amalgamation of the six sterling tea
companies with the Company was approved by the High Courts at
Calcutta & Guwahati with effect from the close of business on
31st December. The object & activities of the Company include
the cultivation of tea plant action and manufacture of the tea.
The Company also exports tea.

- The Indian undertakings of six sterling companies viz (i) The
Assam Co. Ltd. (ii) Assam Estates Ltd. (iii) The Greenwood Tea
Co. Ltd. (iv) Alonah Tea Co. Ltd. (v) Thanai Tea Company Ltd.
and (vi) The Upper Assam Tea Co. Ltd. were incorporated and
amalgamated with the Company effective from close of business on
31st December. The six sterling companies owned 16 estates in
India.

1978 - 7 shares subscribed for by the signatories to the Memorandum of
Association; 25,99,000 shares allotted without payment in cash to
Assam Investments Ltd., U.K., 70,000 shares reserved and allotted
to public financial institutions, viz., UTI, LIC and GIC and
50,000 shares reserved and allotted to employees of the Company.
7,89,993 shares offered at par for public subscription during
January-February 1979.

1979 - The object of the public issue of capital during January-February
was to reduce the non-resident holding in the Company to a level
not exceeding 74%.

1984 - 35,00,000 bonus shares issued in proportion 1:1.

1985 - 70,00,000 bonus shares issued in proportion 1:1.

1988 - To commemorate its 150th anniversary, the Company proposed to
change its name from Assam Co. (India), Ltd. to the Assam Company
Ltd.

1989 - Effective from 4th December, the name was changed to Assam Co.,
Ltd.

- Assam Gold Properties Ltd., Lord Inchcape Financial Services
Ltd., Assam Gold Foods Ltd., Assam Agrottic-Tech Ltd., Camelia
Estates Ltd., Goodluck Properties Pvt. Ltd., Sribhumi Properties
Pvt. Ltd., Duncan Macneill Infrastructure Ltd., Duncan Macneill
Power & Utility Ltd. are all subsidiaries of the Company.

1992 - The Company initiated talks with the Assam Government in a
hydro-carbon related areas. A collaboration was worked out with
Monterey Mushrooms Inc. USA, for growing and marketing mushrooms.

- The company proposed to undertake production of instant tea,
fruit flavoured tea, herbal flavoured tea and a range of other
exotic teas in collaboration with Ashbys of U.K.

- The Company proposed to issue secured redeemable non-convertible
debentures on Rights basis with one/two warrants attached to it
to be converted into equity shares.

1994 - The Company undertaken to participate as a result of MOU entered
on 28th January, by Duncan Macneill (Holding) Ltd. UK with the
Govt. of Andhra Pradesh for and on behalf of the company and
various other associated and group company.

- The company proposed to venture into production of valuable
agricultural products such as black pepper vanila, ginger,
turmeric etc., on the plantations, utilising the land area
unsuitable for the production.

1995 - 20,00,000 No. of equity shares of Rs 10 each at a prem. of Rs 35
per share allotted on preferential basis to Indian associates of
the management group. 64,00,000 Rights shares issued during Oct.
1994 (Prem. Rs 30; prop. 2:5). Till date only 63,96,342 shares
taken up.

- January-April, the company issued 64,00,000 Rights equity shares
of Rs. 10 each at a premium of Rs. 30 per share.

1996 - The Company entered into infrastructure sector and was pursuing
the prospects in the field of oil and gas energy and land - based
infrastructure projects for its mega infrastructure project in
Hyderabad & Vizag.

- The infrastructure development programme received a set back in
view of a show cause notice received from the Govt. of Andhra
Pradesh.

1998 - 160 equity shares issued.

2001 - The Company has declared and introduced Voluntary Retirement Scheme
for employees on January 8, following which the employees have launched
an agitation, resorting to a non-co-operation, go-slow policy.

2003

-Assam Company Board approves Rights Issue

2004

-Board approves rights issue of equity shares in the ratio of 1:5 at a premium of Rs 10 per share

2005
-Company has splits its Face value of Shares from Rs 10 to Re 1

2006

-Assam Company Ltd has informed that the Company, Assam Investment Ltd (formerly Duncan Macneill Holdings Ltd) and their associates (ASSAM) have entered into a Joint Venture (JV) Agreement with DMS Exploration Services, LLC (DMS)

-Assam Company Ltd floats a joint venture company with the Austin-based DMS Explorations.

2007

-Assam Company Ltd signed a Memorandum of Understanding (MOU) with Gujarat State Petroleum Corporation Ltd (GSPC) tor development of SEZ (Special Economic Zone) Hydrocarbon Park.

-Assam Company Ltd has appointed Mr. Umesh Barasia as a Director of the Company with effect from January 26, 2007.

2008

- Assam Company Board recommends dividend @ 10% per Equity Share for the approval of the shareholders at the forthcoming Annual General Meeting.

- Entered into an MoU with the Gujarat State Petroleum Corporation to form a wholly-owned subsidiary Gujarat Hydrocarbons and Power SEZ Ltd (GHAPSL), which would set up an SEZ in Gujarat to cater to export-oriented industries in the oil and gas sectors.
2009

-Assam Company Board recommended payment of Dividend @ 15% (Fifteen percent only) per Equity Share of Re 1/- each for the approval of the shareholders at the forthcoming Annual General Meeting

- Assam Company - Change in name of the Company from "Assam Company Ltd" to "Assam Company India Ltd"

2010

-Assam Company(india) Ltd recommended payment of Dividend @ 20% (Twenty percent only) per Equity Share of Re. 1/- each for the approval of the shareholders at the forthcoming Annual General Meeting.

- Assam Company India Ltd Appointed Mr. Pradip Tusnial as Additional Director of the Company w.e.f. May 7, 2010.

2011

- Assam Company (India) Ltd Appointes Mr. Bharat Anan as a Non-Executive Independent Director on the Board.

- Assam Company (India) Ltd Recommended payment of Dividend @ 0.20 per Equity Share of Re. 1/- each

- Assam Company (India) Ltd Appointed M/s. Walker, Chandiok & Co., Chartered Accountants, as the new Statutory Auditors of the Company.

2012

- Assam Company India Ltd has been appointed Mr. Sarvadaman Ray as an Additional (Non - Executive Independent) Director with immediate effect.

-Assam Company India Ltd recommended payment of Dividend @ Re. 0.05 per Equity Share of Re. 1/- each.

2013
-Assam Company India Ltd has recommended payment of Dividend @ Re. 0.05 per Equity Share.

2014
-Assam Company India Ltd has entered into an Agreement for their investment in the Amguri field for and on behalf of Government of India.

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