REG - Tata Steel Limited - Allotment of securities

TATA SteelAnnouncement

23/11/2021 07:00

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RNS Number : 2445T  Tata Steel Limited  23 November 2021

November 23, 2021

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Re: Allotment of 1,82,23,805 Fully Paid-up Equity shares of Tata Steel Limited
to eligible shareholders of Tata Steel BSL Limited in terms of the approved
and sanctioned Composite Scheme of Amalgamation of Bamnipal Steel Limited and
Tata Steel BSL Limited into and with Tata Steel Limited under Sections 230 to
232 of the Companies Act, 2013 ('Scheme of Amalgamation')

 

This has reference to our letter dated November 11, 2021 providing updates on
the Scheme of Amalgamation.

 

We wish to inform you that the Board of Directors has today, i.e. on November
23, 2021, approved allotment of 1,82,23,805 fully paid-up equity shares of
Tata Steel Limited ('TSL' or 'Company'), of face value ₹10/- each, to
eligible shareholders of Tata Steel BSL Limited ('TSBSL') (as on the record
date of November 16, 2021), in the share exchange ratio of 1:15 as provided in
the Composite Scheme of Amalgamation as approved by National Company Law
Tribunal ('NCLT'), Mumbai Bench vide order dated October 29, 2021. These
shares are proposed to be listed and traded on BSE Limited and National Stock
Exchange of India Limited.

 

Further, 1,63,847 fully paid-up equity shares of TSL (included within the
aforementioned 1,82,23,805 fully paid-up equity shares) are allotted to 'TSL
Fractional Share Entitlement Trust' (managed by Axis Trustee Services
Limited), towards fractional entitlements of shareholders of TSBSL for the
benefit of shareholders of TSBSL, during the process of allotment of shares as
per Share Exchange Ratio as provided in the Scheme of Amalgamation.

 

Company has retained in the ISIN of TSBSL (INE824B01021), 2,56,53,813 equity
shares of TSBSL, which belong to BNPL by virtue of the order dated October 29,
2021 passed by the Hon'ble National Company Law Tribunal, Principal bench, New
Delhi, in the case No. 897/2018 ("NCLT Delhi Order") but currently lying in
the demat accounts of erstwhile promoter group of TSBSL.

 

This disclosure is made in terms of Regulation 30 of the SEBI (Listing
Obligation and Disclosure Requirements) Regulations, 2015.

 

This is for your information and records.

 

Thanking you.

 

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