YEAR EVENTS
1977 - The company was incorporated on 15th March 1977 & obtained
the
certificate of commencement of Business on 28th June 1977.
The
Company undertook cultivation of tea.
1978 - It was formed with the object of taking over the assets and
liabilities of the Indian undertakings of twelve sterling tea
companies with effect from 1st January, to comply with the
provision of FERA and pursuant to two Schemes of Arrangement
for
Amalgamation sanctioned by the High Courts of Calcutta and
Guwahati.
1979 - 7 shares subscribed for by the signatories to the Memorandum
of
Association and 24,50,000 shares allotted without payment in
cash
(21,61,000 shares to Williamson Tea Holdings Ltd., U.K., and
2,89,000 shares to Borelli Tea Holding Ltd., U.K.). 3,15,000
shares reserved and allotted on a firm basis (30,000 shares
to
UTI, 20,000 shares to GIC, 1,40,000 shares to Bishnauth Tea
Co.
Ltd., and 1,05,000 shares to Dimakusi Tea Co., Ltd.) 34,993
shares reserved and allotted to employees/Indian working
directors of the Company. 7,00,000 shares offered at par to
the
public in August 1979.
1985 - 28,00,000 bonus equity shares issued in prop. 1:2.
1988 - 31,50,000 bonus equity shares issued in prop. 1:2.
1992 - 47,25,000 bonus equity shares allotted on 13-4-1992 in prop.
1:2.
1995 - Effective from 21st April, the Clivia Investments Ltd., an
existing Company became a wholly owned subsidiary of the
Company.
1997 - 87,52,050 shares of the Company were held by Williamson Tea
Holdings Plc., U.K., and another 11,70,450 shares of the
Company
were held by The Borelli Tea Holdings Ltd., U.K., a
co-subsidiary
company.
- The company is taken over by the Williamson Magor Group of
Khaitans.
- With a view to staying ahead of its competitors, GWA has been
continually upgrading technology both in the field and in the
factory.
1998 - George Williamson (Assam) Limited has recorded an improved
all-round performance during the first three months of the
current financial year.
1999 - George Williamson (Assam) Ltd, is one of the bigger tea
companies
in the Williamson Magor group.
- Williamson Magor & Co, the holding company of the group, has
reported a dip in its net profit from Rs 5.16 crore in
1997-98
to Rs 2.51 crore in 1998-99. The company did not make any
provision for taxes in the year to March 31, 1999.
2001 - ICRA has assigned LAA+ to the Rs.50 crore NCD program of
George
Williamson (Assam) Ltd.
2002
-George Williamson Assam Ltd has informed that the Board has made
changesin the Board:Mr S K Mitra the Chairman and Managing Director
of the Company has resigned from the Board with immediate effect.Mr P
Magor has been appointed as the Chairman of the Board,Mr A Vira the
Wholetime Director of the Company has also resigned from the Board of
Directors.
-ICICI Ltd acquires 8,12,749 fully paid up equity shares of Rs.10/-
each in the company which represents 5.73% of the paid up equity
share capital
-Mr. R B Magor ceases to be a Director of the company w.e.f. May 15,
2002.
-Dr. Pronab Dasgupta resigns as director of the company
2003
-Board decides to acquire 14,885 equity shares of Rs 100 each out of
the total issued 15,000 equity shares of Rs 100 each of Nilpur Tea
Company Pvt Ltd Kolkata,the owner of Nilpur Tea Estate in the
Sonitpur District of Assam
2005
-ICICI Securities Ltd (Manager to the Offer) on behalf of McLeod
Russel India Ltd, Williamson Magor & Company Ltd, United Machine
Company Ltd, Ichamati Investments Ltd and Nitya Holdings & Properties
Pvt Ltd (collectively referred to as Acquirers) pursuant to Regulation
10 and Regulation 12 of the Securities & Exchange Board of India
(Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and
subsequent amendments thereto (SEBI (SAST) Regulations, 1997), has
announced as below:
The Offer:
The Acquirers are making an open offer to the shareholders of
Williamson Tea Assam Ltd (Target Company) to acquire up to 2,835,000
fully paid-up equity shares of the face value of Rs 10 each
representing in the aggregate 20% of the paid-up equity share capital
of the Target Company at a price of Rs 145 per share (Offer Price)
payable in cash subject to the terms & conditions.
