Simplify the following text for a Grade 6 native English-speaking person.
Original: So lightly was the acquisition esteemed in England and so unsuccessful was the administration of the crown officers , that in 1668 Bombay was transferred to the East India Company for an annual payment of Â # 10 .
Simplified: In 1668 Bombay was given to the East India Company for a yearly payment of Â # 10 .