Goodricke Group Ltd Executes Non-Binding MoU for Sale of Barnesbeg Tea Estate

Goodricke Group Ltd has executed a Non-binding Memorandum of Understanding (MoU) with Mr. Akshay Shankar Das for the proposed sale of Barnesbeg Tea Estate. The MoU is non-binding and the execution of a definitive agreement will be subject to satisfactory due diligence. The Board of Directors has approved the execution of the MoU. The Barnesbeg tea estate contributed 0.25% of the total turnover of the Company during the last financial year, fetching an average annual own crop of 44,000 Kgs of tea. The expected date of completion of the sale is 31st March, 2026. The consideration for the sale is Rs.4,50,00,000/- exclusive of applicable taxes. The buyer, Mr. Akshay Shankar Das, does not belong to the promoter/promoter group or group companies. The proposed transaction does not constitute a Related Party Transaction and falls outside the scope of the Scheme of Arrangement.