Outcome of Board Meeting

Tata Steel Limited

24 January 2024

 

January 24, 2024

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, January 24, 2024, 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 nine months ended December 31, 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 Auditors' Report, Press Release and Investor Presentation are enclosed herewith.

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

In terms of the Scheme of Amalgamation amongst Tata Steel Limited and Tata Metaliks Limited ('TML') and their respective shareholders as approved and sanctioned by the Hon'ble National Company Law Tribunal, Kolkata bench vide Order dated
December 21, 2023 and the Hon'ble National Company Law Tribunal, Mumbai bench vide Order dated January 11, 2024, the Board of Directors of the Company, has approved the issuance of up to 9,97,01,239 fully paid-up equity shares of ₹1/-  each, in the ratio of
79 fully paid-up equity shares of Tata Steel Limited of face value ₹1/- each for every
10 fully paid-up equity shares of TML of face value ₹10/- each, to the eligible shareholders of TML as on the Record Date approved in accordance with the Scheme of Amalgamation.
In accordance with the Scheme of Amalgamation, Tuesday, February 6, 2024, has been fixed as the Record Date to determine the eligible shareholders of TML who will receive fully paid-up equity shares of Tata Steel Limited as per the share exchange ratio.

The Board meeting commenced at 2:30 p.m. (IST) and concluded at 6.35 p.m. (IST).

The above announcements are also being made available on the website of the Company at www.tatasteel.com

This disclosure is made in compliance with Regulation 30 read with Regulation 51 and 52 of SEBI LODR, as amended.

http://www.rns-pdf.londonstockexchange.com/rns/8234A_1-2024-1-24.pdf

This is for your information and records.          

 

END