Dhunseri Tea & Industries Limited — Important, 17-01-2025: Agreements

Dhunseri Tea & Industries Limited has entered into a Debenture Subscription Agreement with its wholly owned subsidiary, Dhunseri Petrochem & Tea Pte Ltd. The agreement entails the subscription to Optional Convertible Debentures (OCDs) amounting to USD 0.5 million. The OCDs have an interest rate of 7.50% per annum, with interest accruing on a yearly basis. The accumulated interest will only be payable in cash upon redemption or conversion into equity shares, which can be executed within seven years from allotment. As Dhunseri Tea holds 100% of DPTPL, this transaction is considered at arm’s length, posing no additional restrictions or liabilities on the listed entity. This strategic move could enhance financial flexibility for the subsidiary and signifies a positive outlook for potential growth in the consolidated business structure.