Hester Biosciences Ltd — M&A Activity 2021

Nov 9, 2021

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9 November 2021

To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra - Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 524669 Symbol: HESTERBIO

Dear Sir:

Subject: Press Release

We attach a press release by the Company titled “Hester India enters into an agreement to acquire 50% stake in Thrishool Exim Limited, Tanzania” for your information and dissemination on your website.

Sincerely, For Hester Biosciences Limited

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Vinod Mali Company Secretary & Compliance Officer

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Press Release

9 November 2021

Hester India enters into an agreement to acquire 50% stake in Thrishool Exim Limited, Tanzania

Hester India enters into an agreement to acquire 50% stake in Thrishool Exim Limited, Tanzania, to increase its distribution footprint in Tanzania and in the African continent.

Thrishool is an animal health products distribution company operating in Tanzania since 2012. Thrishool’s product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognized international producers.

Over the years, Thrishool has gained prominence as well as has established itself as a respectable distribution company in the animal healthcare segment in Tanzania.

The turnover of Thrishool in the last financial year, ending 31 December 2020, was Tanzanian Shillings 7.10 billion (approximately USD 3 million).

The proposed collaboration, along with the additional range of animal vaccines from Hester Africa, it will over-all synergise Hester’s distribution thrust in Tanzania as well as in Africa.

The consideration for the proposed acquisition is USD 2.25 million.

The proposed transaction is subject to receipt of Tanzanian regulatory approvals.

About Hester

Hester is an Indian multinational animal healthcare company focusing on emerging markets.

Having animal vaccines and health products manufacturing plants in India, Nepal and Tanzania, the company operates with a singular focus of improving health of animals thereby enabling better health for human beings.