Sesa Goa Limited Update on Schemes of Amalgamation and Arrangement
August 29 2013 - 2:59PM
Business Wire
Sesa Goa Limited (‘Sesa Goa’ or the ‘Company’) has today
allotted equity shares to the Shareholders of Sterlite Industries
(India) Limited (‘Sterlite’), The Madras Aluminium Company Limited
(‘MALCO’) and Ekaterina Limited (‘Ekaterina’) pursuant to the
Schemes of Amalgamation and Arrangement as under:
- To the Shareholders of Sterlite:
194,45,43,741 (One Hundred Ninety Four crores Forty Five
lacs Forty Three Thousand Seven Hundred and Forty One) equity
Shares of Re. 1/- fully paid up, 3 Sesa Goa shares being issued for
every 5 existing Sterlite shares;
- To the Shareholders of MALCO:
7,87,24,989 (Seven crores Eighty Seven Lacs Twenty Four
Thousand Nine Hundred and Eighty Nine) of Re. 1/- each fully paid
up, 7 Sesa Goa shares being issued for every 10 existing MALCO
shares;
- To the Shareholders of
Ekaterina: 7,23,04,334 (Seven crores Twenty Three Lacs
Four Thousand Three Hundred and Thirty Four) of Re. 1/- each fully
paid up, 1 Sesa Goa shares being issued for every 25 existing
Ekaterina shares.
Consequent to the aforesaid allotments, the paid up equity share
capital of the Company stands increased from Rs. 869,101,423 to
Rs. 2,964,674,487.
Sesa Goa will apply to the Bombay Stock Exchange and the
National Stock Exchange in India (together, the "Indian Stock
Exchanges") for listing approval for the new Sesa Goa shares and
expects to receive the final listing approval within three to four
business days. Thereafter, Sesa Goa will apply to the Indian Stock
Exchanges for trading approval for the new Sesa Goa shares and
expects to receive the trading approval within a further two to
three business days. The new Sesa Goa shares are expected to begin
trading on the Indian Stock Exchanges on the next business day in
India after trading approval is received.
About Sesa
Sesa is India’s leading producer and exporter of iron ore in the
private sector with operations in the states of Goa and Karnataka
in India and a large integrated project site in Liberia, West
Africa. Founded in 1954, for about 6 decades, Sesa has been
involved in iron ore exploration, mining, beneficiation and
exports. Sesa is a part of Vedanta Resources plc, the London-listed
FTSE 100 diversified metals and mining major. Sesa also
manufactures pig iron and metallurgical coke, with a 0.56 mtpa
metallurgical coke plant and a 0.625 mtpa pig iron plant in Goa,
and associated two power plants of 30 MW each.
Disclaimer
This press release contains “forward-looking statements” – that
is, statements related to future, not past, events and may be
interpreted as ‘forward looking statements’ within the meaning of
applicable laws and regulations. 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. Actual results might
differ substantially or materially from those expressed or implied.
Important developments that could affect the company’s operations
include a downtrend in the steel, pig iron & met coke industry
– global or domestic or both, significant changes in political,
economic, business, competitive or regulatory environment in India
or key markets abroad and from numerous other matters of national,
regional & global scale including but not limited to natural
calamity, tax laws, litigations, Government policies &
regulations, fluctuations in interest and or exchange rates of
Indian Rupee, etc. Any forward-looking information in this press
release has been prepared on the basis of a number of assumptions,
which may prove to be incorrect. This press release should not be
relied upon as a recommendation or forecast by Sesa Goa Ltd. The
views expressed herein may contain information derived from
publicly available sources that have not been independently
verified; no representation or warranty is made as to the accuracy,
completeness or reliability of this information. We do not
undertake to update our forward-looking statements.
Investor contact:for Sesa
Goa LimitedAshwin Bajaj, +91 22 6646 1531Senior Vice President–
Investor Relationssesa.ir@vedanta.co.in
Silverline Tech 1:10 (NYSE:SLT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Silverline Tech 1:10 (NYSE:SLT)
Historical Stock Chart
From Jul 2023 to Jul 2024