Update in the matter of the Scheme of Amalgamation

Tata Steel Limited

03 November 2023

 

November 3, 2023

London Stock Exchange

London

Dear Madam, Sirs,

Subject: Update in the matter of the Scheme of Amalgamation amongst Tata Steel Limited and Tata Steel Long Products Limited and their respective shareholders

This is further to our disclosures dated October 20, 2023, October 27, 2023 and November 1, 2023 in connection with the Scheme of Amalgamation amongst Tata Steel Limited ('the Company') and Tata Steel Long Products Limited ('TSLP') and their respective shareholders ('Scheme of Amalgamation') by the Hon'ble National Company Law Tribunal, Mumbai Bench ('Hon'ble NCLT') vide its Order dated October 20, 2023, 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, November 17, 2023, as the Record Date for the purpose of determining the shareholders of TSLP 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 TSLP, whose names would appear in the Register of Members on the Record Date i.e. Friday, November 17, 2023, in the ratio of 67 (sixty-seven) fully paid-up ordinary equity shares of Re.1/- (Rupee one) each for every 10 (ten) fully paid-up equity shares of ₹10/- (Rupees Ten) each held by such member in Tata Steel Long Products Limited.

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