Tata Tea - Outcome Of Board Meeting

Tata Tea Ltd has informed that the Board of Directors of the Company at its meeting held on June 01, 2007, inter alia, has approved the following:1. Subscription on Preferential basis to 5099396 shares of Mount Everest Mineral Water LtdThe execution of a Share Subscription agreement dated June 01, 2007 between the Company, Mount Everest Mineral Water Ltd (MEMW), a Company incorporated under the Companies Act, 1956, Foresight Holdings Pvt Ltd and Mr. Vinod Sethi, Promoters of MEMW for the issue and allotment of 5099396 equity shares of MEMW at a price of Rs 140 per share on Preferential basis, subject to approval of the shareholders of MEMW and such other approvals as may be necessary.2. Acquisition of 31,10,440 shares of Mount Everest Mineral Water LtdThe execution of the Share Purchase Agreement dated June 01, 2007 between the Company, Foresight Holdings Pvt Ltd (FHPL), Mr. Vinod Sethi MEMW, and Mr. Salim Govani, Managing Director of MEMW and the proposed acquisition of 22,50,000 equity shares of MEMW from FHPL and 8,60,440 equity shares from Mr. Vinod Sethi constituting in the aggregate 10.764% of the paid up equity capital of MEMW at a price of Rs 140 per equity share, on terms and conditions more particularly set out in the Share Purchase Agreement