Mcleod Russel India update on sale of subsidiaries in Rwanda

Borelli Tea Holdings, the wholly owned subsidiary of Mcleod Russel India, has decided to dispose of its entire shareholdinq in Gisovu Tea Company , Rwanda, a Subsidiary Company and 50% of the equity shares held by it in Pfunda Tea Company, Rwanda, another Subsidiary Company subject to due diligence by the proposed buyer and necessary approvals and for the said purpose BTHL, as the seller, and the Company, as the confirming party, have entered into separate Memorandum of Understandings with the proposed buyer namely, Rwanda Tea Investments , having Registered Office at Blenheim House, Fountainhall Road, Aberdeen, AB15 4DT on 22 February, 2019.

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