All-Share Merger of Sesa Goa and Sterlite Industries Becomes Effective
August 17 2013 - 2:00AM
Business Wire
Sesa Goa Limited (‘Sesa Goa’) and Sterlite Industries (India)
Ltd (‘Sterlite’) today announced that merger of Sterlite and The
Madras Aluminium Company Limited (MALCO) with Sesa Goa and transfer
of MALCO power plant to Vedanta Aluminium Limited (VAL) pursuant to
the Scheme of amalgamation and arrangement amongst Sterlite, MALCO,
Sterlite Energy Limited (SEL), VAL and Sesa Goa and their
respective Shareholders and Creditors (‘Composite Scheme’) and the
Scheme of Amalgamation of Ekaterina Limited (Ekaterina) with Sesa
Goa and their respective Shareholders and Creditors (‘Ekaterina
Scheme’) has become effective.
28 August, 2013 has been fixed as the Record date for
determining the list of the shareholders of Sterlite, MALCO and
Ekaterina to whom the equity shares of the Sesa Goa will be
allotted as per terms of the scheme as already announced on 25
February 2012 in the following manner:
To the Shareholders of Sterlite:
Every equity shareholder of Sterlite holding 5 (five) equity
shares in Sterlite of Re. 1 each fully paid up (‘Sterlite Shares’)
as of the Record Date shall be entitled to be issued 3 (three)
shares of face value Re. 1 each, at par, credited as fully paid up,
of the Sesa Goa (‘Sesa Goa Shares’).
To the ADS holders of Sterlite:
Every holder of Sterlite ADSs (each representing 4 (four)
Sterlite shares) holding 5 (five) Sterlite ADSs shall be entitled
to receive 3 (three) Sesa Goa ADSs (each representing 4 (four) Sesa
Goa shares).
To the Shareholders of MALCO:
Every equity shareholder of MALCO holding 10 (ten) equity shares
in MALCO of Rs. 2 each fully paid up as of the Record Date shall be
entitled to be issued 7 (seven) equity shares of face value Re. 1
each, at par, credited as fully paid up, of the Sesa Goa.
To the Shareholders of Ekaterina:
Every equity shareholder of the Ekaterina Limited holding 25
(Twenty Five) equity shares in Ekaterina Limited of USD 0.1 each
fully paid up as of the Record Date shall be entitled to be issued
1 (One) equity share of the face value of Re. 1 each, at par,
credited as fully paid-up, of the Sesa Goa.
Treatment of fractional entitlements:
All fractional entitlements (cumulatively) of individual
shareholders will be allotted to one of the Sesa Goa’s Director’s,
who shall hold the same as a trustee for and on behalf of such
shareholders of Sterlite and MALCO and shall dispose off and
distribute the proceeds thereof to such shareholders in proportion
to and in lieu of their respective fractional entitlements.
About Sterlite
Industries
Sterlite Industries (India) Limited is India’s largest
diversified metals and mining company. The company produces
aluminium, copper, zinc, lead, silver, and commercial energy.
Sterlite Industries has a portfolio of world class assets in India,
Australia, Namibia, South Africa and Ireland. Sterlite Industries
is listed on the Bombay Stock Exchange and National Stock Exchange
in India and the New York Stock Exchange in the United States. For
more information, please visit www.sterlite-industries.com
Disclaimer
This press release contains “forward-looking statements” – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“seeks,” “should” or “will.” Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other
matters of national, regional and global scale, including
those of a political, economic, business, competitive or regulatory
nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
Regd. Office: SIPCOT Industrial Complex, Madurai Bypass
Road, TV Puram P.O., Tuticorin-628002, Tamil Nadu
Sterlite Industries (India) LtdAshwin Bajaj, Tel: +91 22 6646
1531Senior Vice President – Investor
Relationssterlite.ir@vedanta.co.inorSheetal Khanduja, Tel: +91 22
6646 1531AGM – Investor Relationssterlite.ir@vedanta.co.in
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