| Scheme of Arrangement (Demerger) of ITC LTD (Scrip Code 500875) |
Trading Members of the Exchange are hereby informed that, pursuant to the Scheme of Arrangement as approved by the Hon'ble National Company Law Tribunal, Kolkata Bench, ITC LTD, has fixed Record Date for the purpose of Demerger and for determining the entitlement of the shareholders 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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EX-ENTITLEMENT FROM
DATE &
SETT. NO.
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ITC LTD
(500875)
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06/01/2025
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As per Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal, Kolkata Bench, between, ITC LTD (the Demerged Company) and ITC Hotels Limited. (the Resulting Company) and their Respective Shareholders and Creditors;
The Scheme provides for Demerger of the Hotel Business of ITC LTD, (Demerged Company) INTO ITC Hotels Limited. (Resulting Company) ;
Upon the Scheme becoming effective and In consideration of the Demerger as stated above, ITC Hotels Limited (Resulting Company), shall issue and allot Equity Shares to the shareholders of ITC LTD (Demerged Company) in the following proportion:-
“for every 10 Ordinary Shares of Face and Paid-up value of Re.1/- each held in the Demerged Company, 1 equity share of Face and Paid-up value of Re.1/- in the Resulting Company” (“Share Entitlement Ratio”)
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06/01/2025
DR-792/2024-2025
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Note:
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 (Special Pre- open Session (SPOS)) on 6th January, 2025. For further information on SPOS, the trading members are requested to refer to the Exchanges notice no. 20120216-29 dated February 16, 2012 on Enabling Special Pre-open Session.
Subject to compliance with requisite formalities, the Equity Shares of the Resulting Company i.e. ITC Hotels Limited. will be listed on BSE Limited.
Marian Dsouza
Senior Manager –Listing Operations (CRD)
December 27, 2024 |