MAHARASHTRA ELEKTROSMELT LTD. - Record Date for Scheme of Amalgamation
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| 02 Aug 2011 | |
| Steel Authority of India Ltd (SAIL) has informed BSE that the Board of Directors of SAIL in its meeting held on July 29, 2011 has fixed August 10, 2011 as the 'Record Date' for determining the names of the shareholders of Maharashtra Elektrosmelt Ltd. (MEL) who will be entitled to be issued and allotted equity shares of SAIL as per the exchange ratio.<br/><br/>Pursuant to the Scheme of Amalgamation between Maharashtra Elektrosmelt Ltd. and Steel Authority of India Ltd. under Sections 391 to 394 of the Companies Act, 1956 ("Scheme"), the equity shareholders of MEL will be entitled to receive shares of SAIL in the following exchange ratio:<br/><br/>1 fully paid-up equity share of Rs. 10 each of SAIL for every 1.7 fully paid-up equity share of face value of Rs. 10 each held by the equity shareholders of MEL. | |
| View all announcements for MAHARASHTRA ELEKTROSMELT LTD. | Source: BSE India |
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