REG - Tata Steel Limited - Allotment of Securities

TATA SteelAnnouncement

22/11/2023 12:45

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RNS Number : 3541U  Tata Steel Limited  22 November 2023

November 22, 2023

 

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Sub: Allotment of 7,58,00,309 Fully Paid-up Equity shares of Tata Steel
Limited to eligible shareholders of Tata Steel Long Products Limited in terms
of the Scheme of Amalgamation amongst Tata Steel Limited and Tata Steel Long
Products Limited and their respective shareholders ('Scheme of Amalgamation')

 

This has reference to our letter dated November 15, 2023, disclosing the
effective date of the Scheme of Amalgamation.

 

We wish to inform you that, the Board of Directors of Tata Steel Limited ('the
Company') has today, i.e., November 22, 2023, approved the allotment of
7,58,00,309 fully paid-up equity shares of the Company of face value ₹1/-
each, to eligible shareholders of Tata Steel Long Products Limited ('TSLP') as
on the record date i.e. November 17, 2023 ('Record Date'), in the share
exchange ratio of 67:10 i.e., 67 fully paid-up equity shares of the Company of
face value ₹1/- each to be allotted for every 10 fully paid-up equity shares
of TSLP 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 vide order dated October 20, 2023 and the Hon'ble NCLT,
Cuttack Bench vide order dated October 18, 2023. These equity shares so
allotted shall rank pari-passu with the existing shares of the Company. These
equity shares are proposed to be listed and traded on BSE Limited and the
National Stock Exchange of India Limited.

 

The above allotment includes the following:

 

a)   14,430 fully paid-up equity shares of Tata Steel of face value ₹1/-
each, allotted to 'TSL-TSLP Fractional Share Entitlement Trust' (managed by
Axis Trustee Services Limited), towards fractional entitlements of eligible
shareholders of TSLP with all additions or accretions thereto in trust, for
the benefit of shareholders of TSLP, during the process of allotment of shares
as per the Share Exchange Ratio of 67:10 as provided in the Scheme of
Amalgamation.

 

b)   25,47,224 fully paid-up equity shares of Tata Steel of face value
₹1/- each, allotted to 'Tata Steel Limited - Unclaimed Securities - Suspense
Escrow Demat Account TSL-TSLP Merger' maintained with Standard Chartered Bank,
Fort Branch, Mumbai, representing in aggregate the equity shares of eligible
shareholders of TSLP 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.

 

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

 

This is for your information and record.

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