Board of Electrosteel Steels to consider proposal of delisting

On 24 September 2018

The Board of Electrosteel Steels will meet on 24 September 2018 to consider and approve Company has received a letter dated 18.09.2018 from Vedanta Star ('Acquirer'), wherein the Acquirer has expressed its intention to acquire up to 1961,67,342 equity shares of the Co. representing approx.10% of the paid up share capital of the Co. held by the shareholders of the Company (other than the Acquirer) at a price of Rs 9.54 per equity shares calculated in terms of the Resolution Plan approved by the Kolkata Bench of NCLT vide its order dated 17 April 2018.

Accordingly, a meeting of the Board of Directors of the Company is proposed to be held on 24 September 2108 in order to consider inter alia the following:

 

1. To consider the proposal of delisting made by the Acquirer; and
2. Any other matters incidental thereto.

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