Scheme of Amalgamation amongst Tata Steel & ISWP

Tata Steel Limited

24 August 2024

 

August 24, 2024

London Stock Exchange

London

Dear Sir, Madam,

Re: Update in the matter of the Scheme of Amalgamation amongst Tata Steel Limited and The Indian Steel & Wire Products Ltd and their respective shareholders

This has reference to our earlier disclosures dated September 22, 2022, December 22, 2023, January 25, 2024, May 24, 2024, August 6, 2024 and August 7, 2024, in connection with the Scheme of Amalgamation amongst Tata Steel Limited ('Transferee Company'/'Tata Steel') and The Indian Steel & Wire Products Ltd ('Transferor Company'/'ISWP') and their respective shareholders ('Scheme of Amalgamation'), as approved and sanctioned by the Hon'ble National Company Law Tribunal ('Hon'ble NCLT'), Mumbai Bench vide its Order dated August 6, 2024 and by the Hon'ble NCLT, Kolkata Bench vide its Order dated May 24, 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, Tata Steel will pay a cash consideration of ₹426/- for every 1 fully paid-up ordinary equity share of ISWP of face value ₹10/- each, to the eligible shareholders of ISWP (except the Transferee Company), whose names appear in the Register of Members as on the Record Date to be mutually fixed by the Board of Directors of the Transferee Company as well as the Transferor Company.

For aforesaid purpose, in accordance with the terms of the Scheme of Amalgamation, Friday,
September 6, 2024, has been fixed as the Record Date to determine the eligible shareholders of ISWP, who will receive the cash compensation as per the terms of the Scheme of Amalgamation.

This disclosure is being made in terms of Regulation 30 and Regulation 51 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