Dhunseri Tea & Industries Limited — Important, 04-12-2024: Agreements

Dhunseri Tea & Industries Limited has entered into a Debenture Subscription Agreement with its wholly owned subsidiary, Dhunseri Petrochem & Tea Pte Ltd (DPTPL). The agreement involves the subscription to Optional Convertible Debentures (OCDs) issued by DPTPL, totaling USD 1 million. The OCDs carry an interest rate of 7.50% per annum, with interest accruing yearly and becoming payable upon redemption or conversion. Notably, the option to convert the OCDs into equity shares is valid for seven years. This move is strategic for bolstering financial support within the group, enhancing operational flexibility. Investors should monitor developments closely, as the successful execution of this agreement may present a positive outlook for future growth and increased capital alignment within the subsidiary.