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Reliance Comm
BSE: 532712NSE: RCOMISIN: INE330H01018

8th-Jul-2013 08:33Source: BSE

Reliance Comm - RCOM to unlock substantial shareholder value by Demerger of Real Estate into Separate Company

Reliance Communications Ltd has informed BSE regarding a Press Release dated July 07, 2013, titled "RCOM to unlock substantial shareholder value by Demerger of Real Estate into Separate Company". Reliance Communications'' (RCOM) Board of Directors has in-principle decided on a demerger of the real estate held by RCOM into a separate unit, Reliance Properties Ltd., to unlock substantial value for the benefit of its approx. 2 million institutional and retail shareholders. The proposed separation of real estate into a separate unit is part of RCOM’s strategic plan to divest non-core assets, and focus on its core wireless and enterprise business. Reliance Properties Ltd. will be a separate listed Company. All shareholders of RCOM will receive fully tradable pro-rata shareholding in Reliance Properties Ltd., FREE OF COST, based on their existing shareholding in RCOM.

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