General Announcement::Effective Date of the Scheme of arrangement

Issuer & Securities

Issuer/ Manager
TATA MOTORS LIMITED
Securities
TATA MOTORUS$300M5.875%N250520 - XS2079668609 - FGLB
TATA MOTORUS$500M4.625%N200430 - XS1121907676 - 19RB
TATA MOTORUS$250M5.75%N241030 - XS1121908211 - 19SB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-Jan-2022 17:42:38
Status
New
Announcement Sub Title
Effective Date of the Scheme of arrangement
Announcement Reference
SG220103OTHRXFJS
Submitted By (Co./ Ind. Name)
Tata Motors Limited
Designation
Senior Manager
Effective Date and Time of the event
03/01/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
This is in furtherance of our letter dated August 27, 2021 informing about the approval and sanction of the Scheme by the Honb le National Company Law Tribunal, Mumbai Bench vide order dated August 24, 2021.

We are pleased to inform you that all the conditions required for effectiveness of the Scheme referred to in Clause 24 of the Scheme have been fulfilled and/or waived in accordance with the Scheme.

As an integral part of the Scheme, a portion of the securities premium account has been written down by adjusting against the accumulated losses of the Company to the extent of INR 11,173.59 crore as on January 1, 2022. Further, pursuant to the effectiveness of the Scheme, the Tata Motors Limited Employees Stock Option Scheme 2018 hereby stands amended.
In accordance with the Scheme, the Transferee Company has settled the purchase consideration of INR 9,417 crore payable for the purchase of Passenger Vehicle Undertaking under the Scheme by allotment of 941,70,00,000 equity shares of INR 10 each/- in the Transferee Company to the Company, as approved at its Board Meeting held today.

Press release enclosed herewith

Attachments

Project Simba - SE Intimation of Effective Date.pdf
Total size =148K