Dhunseri Tea & Industries Ltd to Subscribe to USD 0.50 MN Optional Convertible Debentures of Wholly Owned Subsidiary

Dhunseri Tea & Industries Ltd (DTIL) has entered into a Debenture Subscription Agreement with its wholly owned subsidiary, Dhunseri Petrochem & Tea Pte Ltd (DPTPL), to subscribe to Optional Convertible Debentures (OCD) aggregating to USD 0.50 MN. The OCDs may be converted into Equity Shares at a conversion price to be determined on an arm's length basis. The interest rate for the debentures is 7.50% p.a., with interest accruing yearly and becoming due on the date of redemption or conversion. The transaction is done at arm's length and falls within related party transactions as DTIL holds 100% shares of DPTPL.