Update in the matter of Scheme of Amalgamation

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.

 

END