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| NOTICES |
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| Notice No. |
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20230710-16 |
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Notice Date |
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10 Jul 2023 |
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| Category |
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Corporate Actions |
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Segment |
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Equity |
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| Subject |
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Resolution Plan- Extinguishment and Issue of Equity Shares of RELIANCE NAVAL AND ENGINEERING LIMITED (Scrip Code: 533107) |
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| Content |
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Trading members of the Exchange are hereby informed that, RELIANCE NAVAL AND ENGINEERING LIMITED has fixed Record Date for the purpose of the (1) Cancellation and Extinguishment of presently outstanding Ordinary Equity Shares of the Company and (2) Issuance of Fresh Equity shares to existing shareholders and Hazel Infra Ltd (Special Purpose Vehicle) as per the Resolution Plan approved vide Order passed by the Hon’ble National Company Law Tribunal, Ahmedabad, Special Bench.
Trading Members are hereby advised not to deal in the Equity Shares of the Company as per details given below:-
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COMPANY NAME & CODE
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RECORD DATE
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PURPOSE
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No Dealings/ Suspension w.e.f.
Date/Settlement No.
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RELIANCE NAVAL AND ENGINEERING LIMITED
(533107)
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14/07/2023
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As per the Resolution Plan approved by Hon’ble National Company Law Tribunal, Ahmedabad, Special Bench, Court – II :-
Treatment of Existing Shareholders:-
The Resolution Applicant proposes to cancel and extinguish all the presently outstanding ordinary equity shares being held by the existing shareholders, subject to issuance of one fresh equity share of face value Rs. 10/- to each existing shareholder for every 275 ordinary equity shares held by such shareholder. It is clarified that all the existing shareholders shall be deemed to be public shareholders for the purposes of the Securities Exchange (Regulation) Rules, 1957. Any fractional shares shall be held in trust and dealt with in accordance with the relevant provisions of law.
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14/07/2023
DR- 571/2023-2024
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Trading Members of the Exchange are requested to take note of it.
Marian Dsouza
Senior Manager –Listing Operations (CRD)
July 10, 2023 |
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