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Warren Tea Ltd. Company History and Annual Growth Details

YEAR EVENTS
1977 - The Company was incorporated on 31st May in the state of Assam
with a view to use it as a vehicle for Indianisation of "The
Sterling Companies" all of which were incorporated in the U.K.
The certificate for commencement of Business was obtained on 30th
June. The Companies main objects is Cultivation of tea
plantations, manufacture of machinery for processing tea and to
carry on the business as warehousemen, shippers and exporters.

- The Sterling Companies have in aggregate 12 tea estates with a
total planted area under tea admeasuring about 6,078 hectares &
situated in the Dibrugarh district of Assam except Thowra Estate
owned by "The Dekhari Tea Co Ltd" which is situated in the
Sibsagar district of Assam.

- The Eastern Assam Tea Co. Ltd., served as the nucleus around
which the other Sterling Companies were established to open up
additional plantations in the Doom Dooma, Borahapjan, Hoogrijan,
Rajmai and Chabua areas.

- Warren Plantation Holdings Ltd. is a diversified U.K. plantation
group with overseas interests in tea, coffee, rubber, palm oil
and live-stock operating in India, Kenya, Nigeria, Papua New
Guinea and Indonesia.

- Warren Tea Holdings Ltd. is a wholly-owned subsidiary of Warren
Plantation Holdings Ltd., and was owing 100% of the equity and
preference capital of the Sterling Companies that were being
merged with the Company except in Zaloni.

- The Company acquired the Indian undertakings of the Sterling
Companies as going concerns with their assets and liabilities as
at the close of business on 31st October, pursuant to eleven
Schemes of Arrangement for amalgamation approved by the High
Courts at Gauhati and Calcutta.

1978 - The main object of the public issue of capital during August, was
to achieve the Indianisation of the Company. The net proceeds of
the issue were utilised from the general business operations of
the Company.

- 13 shares subscribed for by the signatories to the Memorandum of
Association and allotted to a director, all being resident Indian
nationals and 37 shares subscribed for cash by Warren Tea
Holdings Ltd., U.K. 23,87,661 shares to Warren Tea Holdings Ltd.
U.K. and its nominees and 17,339 shares (6,500 shares to
Non-residents and 10,839 shares to resident Indian nationals) to
shareholders of Laloni Tea Estates Ltd. were allotted without
payment in cash. 8,45,000 shares were then issued at par. Out
of which 65,000 shares to public financial institutions and
60,000 shares to employees of the Company (including Indian
directors) and business associates were reserved for firm
allotment. 7,20,000 shares offered for public subscription
during August 1979.

1985 - The fixed assets of the Company were revalued as on 1st April,
and the surplus of Rs 3,594.48 lakhs arising out of this was
credited to revaluation reserve.

- 6,50,010 bonus shares issued in prop. 1:5.

1990 - 39,00,060 bonus shares issued in prop. 1:1.

1991 - The Company undertook to modernise its assets.

1992 - The Company further acquired 20,60,000 shares in Vegepro Foods
and Feeds Ltd., under the terms of a rights issue. This brings
the total holding of the Company in Vegepro Foods & Feeds, Ltd.
to 41,20,000 No. of equity shares of Rs 10 each acquired at the
rate of Rs 12/- per share.

1993 - 9,00,000 new equity shares of Rs 10 each at a premium of Rs 100
per share were allotted on preferential basis.

1997 - 20,00,000 No. of equity shares of Rs 10 each allotted to the
shareholders of WMIL in the prop. 1:2 as per the scheme of
arrangement for amalgamation with the Company.

1998 - As at 31st March, 57,30,386 shares of the Company were held by
Warren Tea Holdings Plc., U.K.

- Warren Tea Ltd, a Vinay K Goenka group company, has recorded an
increase in pretax and post tax profits for the six-month
period ended September 30.

- The company has also recorded a higher turnover during the
period largely on account of higher sales and higher price
realisation. The company, however, recorded a lower production
at 106.84 lakh kg in the six-month period April-September 1998.
The total income for the current period April-September 1998
was higher.

1999 - Warren Tea Ltd has recommended a final divident of 40 per cent on
the paid-up equity making the overall dividend payable at 80 per
cent for the year ended March 31, 1999.

- The crop is likely to suffer further shortfalls due to adverse
weather conditions prevailing in Assam.

- The good teas have been attracting good prices, the medium and
average teas have seen a significant decline in the auction
prices.

2002

-Warren Tea Ltd has informed that Mr H Singh has resigned as a Director and Whole-Time Director of the Company w e f March 13, 2002.

2008

-Warren Tea Ltd has designated email ID of the grievance redressal division of the Company, exclusively for the purpose of registering complaints by investors is [email protected].

2012

-The Company have approved the appointments of Messrs B. M. Chatrath & Co., and Messrs Singhi & Co., as Joint Statutory Auditors.

2013

-Warren Tea has given the Bonus in the Ratio of 7:10

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