Welspun Corp Ltd - Announcement under Regulation 30 (LODR)-Allotment

| Updated on May 27, 2019 Published on May 27, 2019

This is in reference to the Scheme of Amalgamation of Welspun Pipes Limited (WPL or the Transferor Company) with Welspun Corp Limited (WCL or the Transferee Company) and their respective shareholders and creditors (the Scheme) approved and made effective by the Honble National Company Law Tribunal (NCLT), Ahmedabad Bench, by passing order on May 10, 2019.

The Board of Directors of the Company had fixed May 24, 2019 as the Record Date for the purpose of determining the entitlement for issue of shares of the Company to the shareholders of WPL in the proportion of their shareholding in WPL.

The Amalgamation Committee of the Board of Directors of the Company has today approved the allotment of 11,04,49,818 fully paid equity shares of Rs. 5/- each to Mr. Balkrishan Goenka, Trustee of Welspun Group Master Trust.

The above 11,04,49,818 Equity Shares shall rank pari passu with the existing Equity Shares of the Company in all respects, including dividend entitlement. Further, the existing 11,04,49,818 Equity Shares held by the Transferor Company in the Share Capital of the Transferee Company have been cancelled pursuant to the said Scheme.

Accordingly, the Issued, Subscribed and Paid-Up Equity Share Capital of the Company remains unchanged post above allotment and cancellation of Equity Shares, i.e. Rs. 1,32,61,30,545 (Rupees One Hundred and Thirty Two Crores Sixty One Lakhs Thirty Thousand Five Hundred and Forty Five Only) [comprising of 26,52,26,109 (Twenty Six Crores Fifty Two Lakhs Twenty Six Thousand One Hundred and Nine Only) Equity Shares of Rs.5/- each].

Please note that there is no change in the total promoter holding in the company pursuant to the said allotment.

Kindly take note of the above.

Pdf Link: Welspun Corp Ltd - Announcement under Regulation 30 (LODR)-Allotment

Source : BSE - www.bseindia.com

Published on May 27, 2019
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