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Tata Motors informs about scheme of arrangement

17 Sep 2024 Evaluate
Pursuant to Reg 30 of the SEBI (LODR) Regulations, 2015, Tata Motors has enclosed additional detail regarding Scheme of Arrangement of Tata Motors and its shareholders and creditors, the content of which is self-explanatory. In terms of the Scheme as well as Trust Deed, TML Securities Trust, has sold 1,14,97,462 New Ordinary Shares (‘NOS’) on the Stock Exchanges today for the purpose of distribution of fractional share entitlement as well as towards tax liabilities, as per the Scheme. The aforesaid intimation has been communicated today by Axis Trustee Services, the Independent Trustee, which will now proceed to distribute sale proceeds in cash to the eligible ‘A’ Ordinary Shareholders and credit the balance NOS as per entitlement to their respective demat accounts, shortly. The Company will intimate the ‘A’ Ordinary Shareholders individually as well as to the Stock Exchanges upon the distribution of cash as well as credit of NOS, as aforesaid.

The above information is a part of company’s filings submitted to BSE.

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