REG - Tata Steel Limited - News Clarification

TATA SteelAnnouncement

06/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240606:nRSF3854Ra&default-theme=true

RNS Number : 3854R  Tata Steel Limited  06 June 2024

 

 

June 6, 2024

 

London Stock Exchange

London

 

Dear Madam, Sirs,

Sub: News Clarification

 

This has reference to the news article captioned 'Dutch May Pay as Much as
€3 Billion to Clean Up Tata Steel Plant' dated June 5, 2024, published
online on (http://www.bloomberg.com) www.bloomberg.com
(http://www.bloomberg.com) and other mainstream media.

 

In this connection, as was disclosed in the Financial Results for the year and
quarter ended March 31, 2024, the Company is in discussions with the Dutch
Government on the proposed decarbonization roadmap.

 

The Dutch Parliament, in March 2024 formally gave a mandate to the Government
to negotiate the terms of potential support towards a proposal for
decarbonization in Tata Steel Nederland. Subsequently, the Dutch Government
has formulated a detailed framework of diligence, analysis, discussions and
negotiations with Tata Steel which will run over several months before
potentially culminating in an agreed set of terms. These terms will then
require approval from the Netherlands Parliament as well as the Board of Tata
Steel. It may be premature to draw any final conclusions at this time and
hence the Company is not in a position to comment any further on the news
reports appearing in the mainstream media.

 

Further, we wish to state that the Company has robust processes to comply with
its disclosure obligations and is committed to making accurate and adequate
disclosures in a timely manner as required by Regulation 30 of the Securities
and Exchange Board of India (Listing Obligation and Disclosure Requirements)
Regulations, 2015, as amended ('SEBI Listing Regulations'), read with the
Company's Policy on Determination of Materiality for Disclosure.

 

This clarification is being provided in terms of Regulation 30(11) of the SEBI
Listing Regulations.

 

This is for your information and records.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGSGDLSXGDGSL