REG - Tata Steel Limited - Tata Steel:Conversion of partly paid shares

TATA SteelAnnouncement

24/03/2021 17:10

RNS Number : 3992T
  
Tata Steel Limited
  
24 March 2021
  
 

March 24, 2021
 
London Stock Exchange,
London
 
Dear Madam, Sirs,
 
Re: Conversion of partly paid-up equity shares to fully paid-up equity shares
 
 
This has reference to our letters dated February 9, 2021 and February 23, 2021, with respect to the first and final call of ₹461/- (comprising ₹7.496 towards face value and ₹453.504 towards securities premium) per partly paid-up equity share ("First and Final Call"), in respect of 7,76,36,788 outstanding partly paid-up equity shares of face value ₹10 each (paid-up ₹2.504), issued by the Company, on a rights basis, pursuant to the Letter of Offer dated January 22, 2018. 
 
In this connection, the Stakeholders' Relationship Committee ("Committee"), duly authorized by the Board, at its meeting held today approved the conversion of 7,02,49,241 partly paid-up equity shares of face value ₹10 each into fully paid-up equity shares of face value ₹10 each, against which the first and final call money of ₹461/- per share has been received. The converted shares will rank pari passu with the existing fully paid-up equity shares and shall be available to trade under the ISIN INE081A01012, subject to completion of necessary corporate actions and receipt of listing and trading approvals. 
 
Further, in relation to the partly paid-up equity shares on which the first and final call money remains unpaid, the Committee approved sending of a Reminder-cum-Forfeiture Notice to the holders of such partly paid-up equity shares. The period for payment of the first and final call money pursuant to the Reminder-cum-Forfeiture Notice will be between April 19, 2021 through May 3, 2021. 
 
Further details in this regard will be included in the Reminder-cum-Forfeiture Notice that will be sent to the holders of partly paid-up shares, on which the first and final call money remains unpaid.
 
The meeting of the Committee commenced at 6:00 p.m. IST and concluded at 7:10 p.m. IST.
 
This disclosure is being made pursuant to 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 records.
 

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