REG - Tata Steel Limited - Update in the matter of Scheme of Amalgamation

TATA SteelAnnouncement

08/01/2024 07:00

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RNS Number : 9256Y  Tata Steel Limited  08 January 2024

 

 

            January 8, 2024

 

London Stock Exchange

London

 

Dear Sir, Madam,

 

Re: Update in the matter of the Scheme of Amalgamation amongst Tata Steel
Limited and The Tinplate Company of India Limited and their respective
shareholders

 

a.    Intimation of Record Date pursuant to approval and sanction of the
Scheme of Amalgamation

 

This is further to our disclosure dated January 1, 2024 in connection with the
sanction of the Scheme of Amalgamation amongst Tata Steel Limited ('the
Company') and The Tinplate Company of India Limited ('TCIL') and their
respective shareholders ('Scheme of Amalgamation') by the Hon'ble National
Company Law Tribunal ('Hon'ble NCLT'), Mumbai Bench vide its Order dated
October 20, 2023 and by the Hon'ble NCLT, Kolkata Bench vide its Order dated
January 1, 2024, under the provisions of Sections 230 to 232 and other
applicable provisions, if any, of the Companies Act, 2013 read with the Rules
framed thereunder.

 

In terms of the Scheme of Amalgamation, the Board has approved Friday,

January 19, 2024, as the Record Date for the purpose of determining the
shareholders of TCIL who shall be entitled to receive fully paid-up ordinary
equity shares of the Company in the share exchange ratio as per the Scheme of
Amalgamation.

 

In accordance with the Scheme of Amalgamation, the Company will issue and
allot fully

paid-up ordinary equity shares, to those shareholders of TCIL, whose names
would appear in the Register of Members on the Record Date i.e. Friday,
January 19, 2024, in the ratio of 33 (Thirty-Three) fully paid-up ordinary
equity shares of ₹1/- (Rupee One) each for every 10 (Ten) fully paid-up
ordinary equity shares of ₹10/- (Rupees Ten) each held by such members in
TCIL.

 

b.    Issuance of shares in terms of the sanctioned Scheme of Amalgamation

 

In terms of the Scheme of Amalgamation amongst TCIL and Tata Steel Limited and
their respective shareholders as approved and sanctioned by the Hon'ble NCLT,
Mumbai Bench vide Order dated October 20, 2023 and the Hon'ble NCLT, Kolkata
Bench vide Order dated January 1, 2024, the Board of Directors of the Company,
have approved the issuance of 8,64,92,993 fully paid-up ordinary equity shares
of ₹1/- each, in the ratio of 33 fully paid-up ordinary equity shares of
Tata Steel Limited of face value ₹1/- each for every 10 fully paid-up
ordinary equity shares of TCIL of face value ₹10/- each, to the eligible
shareholders of TCIL as on the Record Date as mentioned above.

 

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 records.

 

 

 

 

 

 

 

 

 

 

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