India firm takes management of Rwanda’s Gisovu Tea factory

Mcleod Russel India under its  Borelli Tea Holdings Ltd. (Borelli),has
taken full management of Gisovu Tea Company  pending completion of
certain formalities.

The said formalities having been completed, Gisovu has issued 12,740
Ordinary shares of RWF 1,00,000 each being 60% of the paid-up share
capital of the said Company to Borelli on December 01, 2011.
With the issue of the above shares to Borelli, Gisovu has become a
subsidiary of Borelli and a step-down subsidiary of Mcleod Russel
India Ltd.

The Mcleod Russel India Ltd stock closed the day at Rs.226.75, up by
Rs.5.80 or 2.63%. The stock hit an intraday high of Rs.228.95 and low
of Rs.223.25.