Ashok Leyland's stake in Optare Plc increases to 98.31%

Following conversion of loans to equity

Ashok Leyland announced that consequent to the conversion of loans into equity, the Company's shareholding in Optare plc will increase from 75.11% to 98.31%.

The aforesaid conversion of loans into equity has no impact on profits and cashflows for the current financial year of Ashok Leyland as the investments in the equity shares and the loans given to Optare plc was fully impaired as of March 2017.

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