REG - Tata Steel Limited - Allotment of fully paid-up Ordinary Equity Shares

TATA SteelAnnouncement

08/02/2024 12:00

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RNS Number : 5229C  Tata Steel Limited  08 February 2024

 

 

 

February 8, 2024

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Allotment of 9,97,01,239 fully paid-up Ordinary Equity Shares of Tata
Steel Limited to the eligible shareholders of Tata Metaliks Limited ('TML') as
on the record date of

February 6, 2024, in terms of the Scheme of Amalgamation amongst Tata Steel
Limited and TML and their respective shareholders ('Scheme of Amalgamation')

 

This has reference to our disclosures dated January 24, 2024, and February 1,
2024, in connection with the Scheme of Amalgamation.

 

The Board of Directors of Tata Steel Limited ('the Company') has today, i.e.,

February 8, 2024, approved the allotment of 9,97,01,239 fully paid-up ordinary
equity shares of the Company of face value ₹1/- each, to the eligible
shareholders of TML as on the record date i.e. Tuesday, February 6, 2024
('Record Date'), in the share exchange ratio of 79:10 i.e.,

79 fully paid-up ordinary equity shares of the Company of face value ₹1/-
each to be allotted for every 10 fully paid-up equity shares of TML of face
value ₹10/- each, in terms of the Scheme of Amalgamation, as approved and
sanctioned by the Hon'ble National Company Law Tribunal ('Hon'ble NCLT'),
Mumbai Bench (having jurisdiction over the Company) vide order dated January
11, 2024 and the Hon'ble NCLT, Kolkata Bench (having jurisdiction over TML)
vide order dated December 21, 2023. These shares so allotted shall rank
pari-passu with the existing fully paid-up ordinary equity shares of the
Company. These fully paid-up ordinary equity shares will be listed and traded
on BSE Limited and the National Stock Exchange of India Limited.

 

The above allotment includes the following:

 

a)   35,744 fully paid-up ordinary equity shares of the Company of face value
₹1/- each, allotted to 'TSL-TML Fractional Share Entitlement Trust' (managed
by Axis Trustee Services Limited), towards fractional entitlements of eligible
shareholders of TML with all additions or accretions thereto in trust, for the
benefit of shareholders of TML, during the process of allotment of shares as
per the Share Exchange Ratio of 79:10 as provided in the sanctioned Scheme of
Amalgamation.

 

b)   58,13,544 fully paid-up ordinary equity shares of the Company of face
value ₹1/- each, allotted to 'Tata Steel Limited - Unclaimed Securities -
Suspense Escrow Demat Account - For TSL-TML Merger' maintained with Standard
Chartered Bank, Fort Branch, Mumbai, representing in aggregate the equity
shares of eligible shareholders of TML holding equity shares in physical form
as on the Record Date and whose individual demat account details are yet to be
made available to the Company as on the date of allotment. These equity shares
will subsequently get credited in dematerialized form, to concerned eligible
shareholders of TML, once their correct demat account details are made
available to the Company.

 

This disclosure is being made in terms of Regulation 30 read with Regulation
51 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended, read with applicable
SEBI Circulars.

 

This is for your information and record.

 

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