Scheme of Arrangement (Demerger) of Sterlite Technologies Ltd.

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Jun 09, 2016 06:06 IST capital market

SUB. :- Scheme of Arrangement (Demerger) of Sterlite Technologies Ltd.

 

Trading Members of the Exchange are hereby informed that, pursuant to the Scheme of Arrangement (Demerger) approved by the Hon’ble High Court of Bombay, Sterlite Technologies Ltd, has fixed the Record Date for the purpose of determining entitlement of the shareholders of the Company, as per details given below:

 

COMPANY NAME

CODE

RECORD DATE

PURPOSE

EX-ENTITLEMENT  FROM

DATE &

SETT. NO.

Sterlite Technologies Ltd.

(532374; 632374)

16/06/2016

 

 

As per Scheme of Arrangement sanctioned by the Hon’ble High Court of Bombay, between, (1) Sterlite Technologies Ltd and (2) Sterlite Power Transmission Ltd: -

 

Upon the coming into effect of the aforesaid Scheme  and in consideration of the demerger of the Power Products and  Transmission Grid Business together with its business, undertakings into  Sterlite Power Transmission Limited:

 

Sterlite Power Transmission Ltd shall issue and allot equity  shares at par on proportionate basis to the shareholders of Sterlite Technologies Ltd, in the following proportion:

 

“01 (ONE) fully paid equity share of Rs. 2/- of Sterlite Power Transmission shall be issued and allotted for every 05 (FIVE) equity shares of Rs.2/-  each held in Sterlite Technologies Ltd”

OR

“01 (ONE) fully paid redeemable preference share of Rs. 2/-  at a premium of Rs. 110.30/- per redeemable preference share of Sterlite Power Transmission Limited shall be issued and allotted for every 05 (FIVE) equity shares of Rs.2/-  each held in Sterlite Technologies Ltd”

15/06/2016

DR-053/2016- 2017

 

Note:

 

Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated September 2, 2010, Trading members are hereby informed that the trading in the equity shares of the aforesaid company shall be transferred from ‘B’ group to ‘T’ group w.e.f. June 15, 2016 and pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012; the aforesaid scrip shall be a part of Call Auction in Pre-open Session on June 15, 2016.

 

 Subject to the compliance with requisite formalities as applicable, the redeemable preference shares of Resulting Company i.e. Sterlite Power Transmission Ltd only will be listed on BSE Limited.

 

 

Mangesh Tayde

Manager –Listing Operations (CRD)

Contact No. 2272 8846

 

June 9, 2016

 

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