Scheme of Arrangement Between Vedanta Limited ("Vedanta") and Cairn India Limited ("Cairn India") and Their Respective Shareholders
MUMBAI, Aug 16, 2016 /PRNewswire/ --
We wish to inform you that by Orders passed on December 18, 2015 and July 22, 2016 by the Hon'ble High Court of Bombay at Goa, the Hon'ble High Court has directed that a meeting of the equity shareholders of the Company be convened and held on Thursday, September 8, 2016 at 10:00 a.m. IST at the Registered office of the Company i.e. Hotel Mandovi, D. B. Marg, Panaji, Goa – 403 001 to consider and if thought fit, to approve the scheme of arrangement of Cairn India Limited with Vedanta Limited and their respective shareholders and creditors ("Scheme").
Pursuant to the above mentioned Orders, the Company will also seek approval of its public shareholders for the Scheme by means of postal ballot and Remote E-voting in accordance with the terms of the SEBI Circular CIR/CFD/CMD/16/2015 dated November 30, 2015 for the following business:
Item No.1 – to approve the proposed Scheme of Cairn India Limited with Vedanta Limited and their respective shareholders and creditors;
Item No.2 – To approve the reduction of capital of the Company by an adjustment against utilisation of the capital reserve and securities premium account of the Company.
Accordingly, Notice along with Explanatory statement dated July 30, 2016 has been dispatched to all shareholders of the Company.
A copy of the said Notice (Form 6K) along with the Explanatory Statement, Information Statement can be accessed via our website or through links as below
http://www.vedantalimited.com/media/99041/form_6k_notice_to_shareholders.pdf
For further information, please contact:
| Communications Roma Balwani President – Group Communications, Sustainability & CSR |
Tel: +91 22 6646 1000 |
||
| Investor Relations Ashwin Bajaj Director – Investor Relations Vishesh Pachnanda Manager – Investor Relations Sunila Martis Manager – Investor Relations
|
Tel: +91 22 6646 1531 |
About Vedanta Limited (Formerly Sesa Sterlite Ltd.)
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities.
The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2016, please visit http://sustainabledevelopment.vedantaresources.com/content/dam/vedanta/corporate/documents/Otherdocuments/SDreport2015-16/Vedanta%20SDR%20FY%2015-16.pdf.
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information please visit www.vedantalimited.com
Vedanta Limited
(Formerly known as Sesa Sterlite Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
Registered Office:
Sesa Ghor, 20 EDC Complex,
Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044
Disclaimer
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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