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Clarifies on News Item

| Updated on May 19, 2015 Published on May 19, 2015

With reference to the news item appearing in ET NOW dated May 19, 2015 captioned "Tata steel in talk to buy visa steel ferro chrome unit, deal valued at Rs.1000 cr.", Visa Steel Ltd has Clarified to BSE as under:

"The Company in the Report of Director’s for the financial year 2013-14 addressed to the members, had disclosed that the Company plans to unlock value in the Special Steel and Ferro Alloys Business through Strategic/Financial Investors.

The Company is in discussion with various Strategic/Financial Investors, but no material event has triggered. The Company shall make suitable disclosures to the stock exchanges as and when any material event takes place.

Subsequent to the above, no material event has occurred requiring intimation to Stock Exchanges as per Clause 36 of the Listing Agreement.

The Company keeps the exchanges informed about events, information etc., including price sensitive information in accordance with the regulatory requirements. We continue to endeavor to maintain highest levels of Corporate Governance practices and disclosure standards."

Source : BSE - >www.bseindia.com

Published on May 19, 2015
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