3rd Apr 2013 08:05
3 April 2013
Group Consolidation and Simplification
Approval by High Court of Bombay at Goa
Vedanta Resources Plc's subsidiaries, Sesa Goa Limited and Sterlite Industries (India) Limited, today issued the following announcements regarding the approval of the Schemes of Amalgamation and Arrangement by the High Court of Bombay at Goa in relation to the group consolidation and simplification, as announced by the company on 25 February 2012, to create Sesa Sterlite. The scheme is now awaiting the approval from the High Court of Madras, for which hearings have been completed.
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Sesa Goa Limited
Sesa announces approval of the Schemes of Amalgamation and Arrangement by the High Court of Bombay at Goa
Goa, 3 April 2013: The Honourable High Court of Bombay at Goa by order dated April 3, 2013 approved the Schemes of Amalgamation and Arrangement, to create Sesa Sterlite.
The update on the scheme(s) of Amalgamation and Arrangement are as stated below-
The Honourable High Court of Judicature of Bombay at Goa, by order dated April 3, 2013, has approved the Scheme of Amalgamation and Arrangement amongst Sterlite Industries (India) Limited, Madras Aluminium Company Limited, Sterlite Energy Limited, Vedanta Aluminium Limited and Sesa Goa Limited and their respective Shareholders and Creditors ('Composite Scheme') and the Scheme of Amalgamation of Ekaterina Limited with Sesa Goa Limited and their respective Shareholders and Creditors ('Ekaterina Scheme'). The Ekaterina Scheme was earlier approved by the Supreme Court of Mauritius by its order dated August 24 2012.
The Composite Scheme is also subject to approval of the Honourable High Court of Madras wherein the hearings have been completed and the order is awaited.
Sterlite Industries (India) Limited
Sterlite announces approval of the Schemes of Amalgamation and Arrangement by the High Court of Bombay at Goa
Tuticorin, 3 April 2013: The Honourable High Court of Bombay at Goa by order dated April 3, 2013 approved the Scheme of Amalgamation and Arrangement amongst Sterlite Industries (India) Limited, Madras Aluminium Company Limited, Sterlite Energy Limited, Vedanta Aluminium Limited and Sesa Goa Limited and their respective shareholders and creditors, to create Sesa Sterlite.
The Scheme is also subject to approval of the Honourable High Court of Madras wherein the hearings have completed and the order is awaited.
For further information, please contact:
Investors Ashwin Bajaj Senior Vice President - Investor Relations Vedanta Resources plc
| Tel: +91 22 6646 1531
|
Media Gordon Simpson Finsbury | Tel: +44 20 7251 3801 |
About Vedanta Resources plc
Vedanta Resources plc ("Vedanta") is a London listed FTSE 100 diversified global natural resources major. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visit www.vedantaresources.com.
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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