Southern Iron - Record Date for Scheme of Amalgamation

JSW Steel Ltd (JSWSL) has informed that with regards to the Scheme of Amalgamation ('the Scheme') of Southern Iron and Steel Company Ltd (SISCOL) with JSW Steel Ltd (JSWSL) and their respective Shareholders & Creditors, the authorised Committee of Directors of JSWSL has fixed March 25, 2008 as the record date for the purpose of drawing up the list of shareholders of SISCOL to whom Equity shares in JSWSL are to be issued and allotted pursuant to the Scheme sanctioned by the High Court of Judicature at Mumbai.

In terms of the sanctioned Scheme, the Equity shareholders of SISCOL would be issued Equity Shares of Transferee Company i.e. JSWSL in the following ratio:

1 (One) fully paid up equity share of Rs 10 each of JSWSL shall be issued and allotted for every 22 (Twenty Two) equity shares of Rs 10 each held in SISCOL (New Equity Shares).