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History of Assambrook Ltd.

YEAR EVENTS 1947 - The Comp. was incorporated at Calcutta. The Comp. carries on the business of growing & cultivation of tea plantation and manufacture of tea.

- Pref shares issued at a prem. of Rs. 7 per share.

1969 - The name of Comp. was changed from Brooke Bond Estate Ltd, to Assambrook Estate Ltd, w.e.f. 1st November.

1976 - 3,50,000 Bonus equity shares issued in prop. 1:1.

1982 - The Comp. added 23 hectares in Group `A' & 25 hectares in Group `B'.

1983 - With a view to reorganising the Dhullie factory in the Company's Group `B' estates, a major expansion/modernisation programme was taken up.

- With effect from 30th May, the name was again changed from Assambrook Estates Ltd., to Assambrook Ltd.

1984 - A major expansion/modernisation programme was taken up during the year. An extensive irrigation programme was also taken up with a view to bring major part of area under irrigation.

- Handling capacity of this factory was substantially increased & it was equipped for dual manufacture of orthodox & CTC teas.

- At an extra-ordinary general meeting of Comp. on 23rd June, the shareholders approved the issue of 35,000-15% non-convertible bonds of Rs 100 each in exchange & cancellation of 35,000-6% cumulative preference shares of Rs 100 each.

- The Calcutta High Court confirmed the reduction of capital by cancellation of 35,000-6% cumulative preference shares of Rs 100 each & consent of CCI was also received for issue of the bonds. These were alloted on 1st January, 1986.

- Vineet Udyog Ltd., Vineet Exports, Ltd., & Assambrook Investments Ltd., was the wholly owned subsidiaries of the Company.

1985 - 7,00,000 Bonus equity shares issued in prop. 1:1. Pref. shares exchanged for Non-Convertible bonds.

1986 - 7,00,000 Rights shares issued [Prem. Rs 10 per share; prop. 1:2s] Only 5,27,206 shares taken up.

1988 - The Comp. launched the blended tea operations in domestic market.

- The Comp. entered into an agreement for acquisition of four tea gardens in the State of Kerala.

1989 - The Comp. entered into an agreement for acquisition of four tea gardens in the State of Kerala.

1990 - The Comp. launched its blended tea in polypack under the brand name 'Mahak' in North India.

1993 - During March, the Comp. allotted 4,82,134 fully convertible debentures on right basis to the existing shareholders. Each debenture was automatically converted into five equity shares of Rs 10 each at a premium of Rs 40 per share within six months from the date of allotment.

1994 - Negotiation were on with Orissa Mining Corporation for identification, selection & allotment of suitable granite mines.

- 24,10,670 No. of equity shares allotted at a prem. of Rs. 40 per share on conversion of FCD.

1995 - Operations were adversely affected due to unfavourable climatic conditions in the form of early drought followed by uneven distribution of rain which retarded growth of crops.

1996 - Performance of Comp. was affected due to poor price realisation & higher input costs.

2004

- Declares lock-out at its Mananthavady Group comprising of Talapoya, Cherakara, Tatamala and Jessie Tea Estates in Wynaad District of Kerala