NOTICE OF MEETING OF EQUITY SHAREHOLDERS OF BOTH WARREN TEA LIMITED AND MAPLE HOTELS&RESORTS LIMITED PURSUANT TO ORDER DATED 28..04.2026 OF THE HON''BLE NCLT ,SPECIAL BENCH
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Warren Tea Limited, a BSE-listed tea production company (Scrip: 508494), is proposing to amalgamate with Maple Hotels & Resorts Limited, an unlisted hospitality company operating 5 hotels under the 'Vesta Hotels & Resorts' brand in Rajasthan. Both companies fall under the same Goenka promoter group with existing associate relationship. The NCLT Kolkata Bench has ordered a shareholder meeting on June 18, 2026 (virtual) to vote on the scheme. The appointed date for the amalgamation is April 1, 2025. Under the proposed share exchange ratio, Warren Tea shareholders will receive 1 equity share of Maple Hotels for every 1 share held in Warren Tea (1:1 ratio). The rationale includes unlocking hospitality business value, providing Warren Tea shareholders exposure to the hospitality sector, achieving cost efficiencies, and creating a platform for business expansion.
Warren Tea shareholders will receive shares in a newly listed hospitality entity upon scheme approval. The merger may lead to delisting of Warren Tea as it gets absorbed into Maple Hotels, while shareholders gain exposure to the tourism/hospitality sector through the Vesta Hotels brand.