[2008-05-27]  Mon Desert Alma Ltd-approval of the sale of its 27.23% equity stake in Food and Allied Industries Ltd
The Board of Directors of Mon Desert Alma Ltd (MDA) has approved the sale of its 27.23% equity stake in Food and Allied Industries Ltd for an amount of Rs 121,447,000 to Espitalier Noël Investment Trust Limited (ENIT). As such, as per Listing Rule 13.28, this is a Related Party Transaction as disposal proceeds represent 12.9% of the Company’s market capitalisation as at 31 December 2007.
The Company will receive as payment consideration 2,405,851 ordinary shares from Espitalier Noël Investment Trust Limited.
Completion of The Transaction is subject to both MDA and ENIT obtaining relevant regulatory approvals.
The Board of Directors expects to complete the transaction by 31st July 2008.
The shareholders and the investing public are therefore advised to exercise caution when dealing in the shares of the Company.”
By order of the Board
Julien Hoareau
For ESPITALIER NOEL LTD
Secretaries
26 May 2008
This Communiqué is issued pursuant to Listing Rule 11.3.
The Board of Directors of Mon Désert Alma Limited accepts full responsibility for the accuracy of the information contained in this communiqué.


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