Southern Iron - Updates on Scheme of Amalgamation

Southern Iron & Steel Company Ltd 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 effective date of the Scheme is March 07, 2008.

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).