REG - Tata Steel Limited - Effective Date of Scheme of Amalgamation

TATA SteelAnnouncement

01/07/2024 14:30

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RNS Number : 6452U  Tata Steel Limited  01 July 2024

 

 

 

July 1, 2024

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Subject: 'Effective Date' of the Scheme of Amalgamation of Bhubaneshwar Power
Private Limited into and with Tata Steel Limited

 

This is further to our disclosures dated November 1, 2023, June 6, 2024, and

June 21, 2024, in connection with the Scheme of Amalgamation amongst Tata
Steel Limited ('Company') and Bhubaneshwar Power Private Limited ('BPPL') and
their respective shareholders ('Scheme of Amalgamation'), as approved and
sanctioned by the Hon'ble National Company Law Tribunal, Hyderabad Bench vide
its Order dated June 6, 2024 ('NCLT Order').

 

We wish to inform you that BPPL and the Company have in terms of Clause 9.1(h)
(Definition of Effective Date) read with Clause 21 (Scheme conditional upon)
of the Scheme of Amalgamation, filed the certified copy of the NCLT Order,
approving and sanctioning the Scheme of Amalgamation, with the respective
jurisdictional Registrar of Companies today, i.e., July 1, 2024. With this
filing, the Company and BPPL have now complied with all the conditions
specified in Clause 9.1 read with Clause 21 of the Scheme of Amalgamation.

 

Accordingly, in terms of Clause 8 (Effectiveness of the Scheme) read with
Clause 9.1(h) (Definition of Effective Date) of Part I of the Scheme of
Amalgamation, the captioned Scheme of Amalgamation has become operative and
effective from today i.e., July 1, 2024 ('Effective Date').

 

In terms of the Scheme of Amalgamation, BPPL stands dissolved without being
wound up, effective July 1, 2024.

 

Further, in terms of the Scheme of Amalgamation, the Memorandum of Association
of the Company stands amended to the extent given below:

 

a.   The applicable main objects in the Memorandum of Association of BPPL
shall be added to the matters which are necessary for furtherance of the
objects of the Memorandum of Association of the Company, to the extent such
objects are not already covered in the existing Memorandum of Association of
the Company.

 

b.   The authorized share capital of ₹257 crore of BPPL stands merged with
the authorized share capital of the Company in the class of Ordinary Equity
Shares of face value

₹1/- each. Consequently, the authorized share capital of the Company will be

₹32,373.50 crore.

 

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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