REG - Tata Steel Limited - ‘Effective Date’ of the Scheme of Amalgamation

TATA SteelAnnouncement

01/12/2023 13:15

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RNS Number : 4385V  Tata Steel Limited  01 December 2023

 

 

December 1, 2023

London Stock Exchange

London

 

Dear Madam, Sirs,

 

Subject: 'Effective Date' of the Scheme of Amalgamation of S & T Mining
Company Limited into and with Tata Steel Limited

 

This has reference to our disclosures dated November 10, 2023, and November
22, 2023.

 

The Scheme of Amalgamation of S & T Mining Company Limited ('S&T
Mining') into and with Tata Steel Limited ('Company') ('Scheme of
Amalgamation'), was approved and sanctioned by the Hon'ble National Company
Law Tribunal, Kolkata Bench vide Order dated November 10, 2023 ('NCLT Order').

 

We wish to inform you that S&T Mining 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, sanctioning the Scheme of Amalgamation with the respective
jurisdictional Registrar of Companies on

November 30, 2023, and today, i.e., December 1, 2023, respectively. With this
filing, the Company and S&T Mining 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., December 1, 2023 ('Effective Date').

 

In terms of the Scheme of Amalgamation, S&T Mining stands dissolved
without being wound up, effective December 1, 2023.

 

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 S&T
Mining 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 ₹90 crore of S&T Mining stands
merged with the authorized share capital of the Company. Consequently, the
authorized share capital of the Company will be ₹31,315 crore.

 

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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