REG - Tata Steel Limited - Outcome of Board Meeting

TATA SteelAnnouncement

01/11/2023 15:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231101:nRSA0899Sa&default-theme=true

RNS Number : 0899S  Tata Steel Limited  01 November 2023

 
November 1, 2023

London Stock Exchange

London

 

Dear Sir, Madam,

 

Re: Outcome of Board Meeting of Tata Steel Limited

 

 

The Board of Directors of Tata Steel Limited ('Company') at its meeting held
today i.e., Wednesday, November 1, 2023, inter alia, transacted the following
business:

 

(a)  Financial Results: Approved the Audited Standalone and Unaudited
Consolidated Financial Results of the Company for the quarter and half year
ended September 30, 2023.

 

The financial information as required to be provided in terms of Regulation 52
of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ('SEBI LODR') forms part of the
Financial Results.

 

A copy of the said Results together with the Auditors' Report for the quarter
and half year ended September 30, 2023, are enclosed herewith as Annexure - 1.

http://www.rns-pdf.londonstockexchange.com/rns/0899S_1-2023-11-1.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0899S_1-2023-11-1.pdf)

 

(b)  Issuance of shares in terms of the sanctioned Scheme of Amalgamation:

 

In terms of the Scheme of Amalgamation amongst Tata Steel Long Products
Limited ('TSLP') and Tata Steel Limited and their respective shareholders as
approved and sanctioned by the Hon'ble National Company Law Tribunal, Cuttack
bench vide Order dated October 18, 2023 and the Hon'ble National Company Law
Tribunal, Mumbai bench vide Order dated October 20, 2023, the Board of
Directors of the Company, have, today approved the issuance of up to
7,58,00,310 fully paid-up equity shares of ₹1/-  each, in the ratio of 67
fully paid-up equity shares of Tata Steel Limited of face value ₹1/- each
for every 10 fully paid-up equity shares of Tata Steel Long Products Limited
('TSLP') of face value ₹10/- each, to the eligible shareholders of TSLP as
on the Record Date to be fixed mutually by the Board of Directors of the
Company as well as the Board of Directors of TSLP.

 

 

(c)  Approval of Scheme of Amalgamation of Bhubaneshwar Power Private
Limited, wholly owned subsidiary, into and with its parent company, Tata Steel
Limited:

 

Considered and approved the Scheme of Amalgamation of Bhubaneshwar Power
Private Limited, a wholly owned subsidiary of the Company, into and with its
parent company, Tata Steel Limited ('Scheme'). The Scheme will be implemented
in terms of Section(s) 230 to 232 of the Companies Act, 2013 read with the
rules made thereunder, Section 2(1B) and other applicable provisions of the
Income-tax Act, 1961 and other applicable laws, as amended from time to time.
The Scheme is subject to the receipt of necessary approvals, permissions and
sanctions of regulatory and other statutory or governmental authorities /
quasi-judicial authorities, as may be necessary, as per applicable laws.
Pursuant to Regulation 30 of SEBI LODR, details in respect of the Scheme of
Amalgamation are enclosed herewith as Annexure - 2.

Also find attached the press release and investor’s presentation.

 

The above announcements are also being made available on the website of the
Company at

www.tatasteel.com (http://www.tatasteel.com)

 

This disclosure is made in compliance with Regulation 30 read with Regulation
51 and 52 of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and the SEBI Circular No.
SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

 

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  MSCNKDBBPBDDADK