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| Exchange Disseminated Time 24/05/2016 20:27:31 | With reference to earlier letter dated May 10, 2016, Jindal Stainless Ltd has now informed BSE that the Board of Directors of the Company in its meeting to be held on May 28, 2016, inter alia, will also consider :
- Fixation of record date for issuance of equity shares of the Company to Jindal Stainless (Hisar) Limited ("JSHL") for a total amount of Rs. 366,18,66,570 (Rupees Three Hundred and Sixty Six Crore Eighteen Lakh Sixty Six Thousand Five Hundred and Seventy only) being the amount due and payable by the Company to JSHL as of the 'Appointed Date 1' i.e. close of business hours before midnight of March 31, 2014 at a price to be determined in accordance with Chapter VII of the Securities and Exchange Board of India (Issuance of Capital and Disclosure Requirements) Regulations, 2009 as specified in the Composite Scheme of Arrangement amongst the Company, JSHL, Jindal United Steel Limited and Jindal Coke Limited and their respective shareholders and creditors, as approved by the Hon’ble High Court of Punjab & Haryana at Chandigarh vide its order dated September 21, 2015 (as modified vide order dated October 12, 2015).
The number of equity shares to be issued will depend upon the price at which such equity shares of the Company will be issued to JSHL as determined in accordance with Chapter VII of the SEBI (ICDR) Regulations. |
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