Warren Tea Ltd to acquire further shares of Maple Hotels & Resorts Ltd

The Board of Directors of Warren Tea Ltd 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.

Shares of WARREN TEA LTD. was last trading in BSE at Rs.129.8 as compared to the previous close of Rs. 132.5. The total number of shares traded during the day was 437 in over 19 trades.

The stock hit an intraday high of Rs. 135 and intraday low of 129.8. The net turnover during the day was Rs. 56971.

Source : Equity Bulls

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