27th-Jan-2011 16:28Source: BSE

Sharda Ispat Lt - Board Meeting & Allotment of Shares by the resultant companies

With reference to earlier announcement regarding the Record Date fixed and approved, Sharda Ispat Ltd has now informed BSE that the Resultant Companies i.e. (1). Sharda Ispat Industries Limited, Kamptee Road, Nagpur & (2). Sarda Power & Steel Limited, 40, Nag Road, Nagpur, in pursuance of the Clause No. 8.6.3 of the sanctioned Scheme read with Clause No. 19 (c) of the Scheme of Arrangement (Demerger) as approved by the Hon''ble BIFR vide their Order dated February 23, 2010 have convened the Board Meetings on February 01, 2011 and are going to make allotment of shares on that date to the shareholders of the Demerged Company, Sharda Ispat Limited (the Company), whose names are appearing in the Register of Members of the Company as on the record date fixed in that behalf i.e. January 10, 2011 as under :

(1) Sarda Power & Steel Limited, 40 Nag Road, Nagpur:
- Date of Board Meeting : February 01, 2011.
- Date of Allotment : February 01, 2011
- Total Number of shares to be allotted : 31,69,350 equity Shares of Rs. 10/- each, credited as fully paid up aggregating to Rs. 3,16,93,500/-
- Ratio of allotment : Allotment of 75 equity shares of Rs. 10/- each, credited as fully paid up of Sarda Power & Steel Limited for every 100 equity shares held by such shareholder in the demerged Company, Sharda Ispat Limited, i.e. 3:4.

(2) Sharda Ispat Industries Limited, Kamptee Road, Nagpur 440026:
- Date of Board Meeting : February 01, 2011
- Date of Allotment : February 01, 2011
- Total Number of shares to be allotted : 31,69,350 equity Shares of Rs. 10/- each, credited as fully paid up aggregating to Rs. 3,16,93,500/-
- Ratio of allotment : Allotment of 75 equity shares of Rs. 10/- each, credited as fully paid up of Sharda Ispat Industries Limited for every 100 equity shares held by such shareholder in the demerged Company, Sharda Ispat Limited, i.e. 3:4.