Reliance Inf S Regulatory News (RIFS)

8 Aug 2006 09:53

Reliance Energy Ld08 August 2006 Sub : Allotment of 91,734,781 Equity Shares of Rs.10 each We wish to inform you that the Committee of Directors of Reliance Energy Limitedat its meeting held on Monday, 7th August, 2006, has allotted 91,734,781 equityshares of Rs. 10 each to the shareholders of the erstwhile Reliance EnergyVentures Limited (REVL), in terms of the Scheme of Amalgamation and Arrangementbetween REVL and Reliance Energy Limited (REL), and their respectiveshareholders and creditors ("Scheme"), as sanctioned by the High Court ofJudicature at Bombay, vide order dated June 23, 2006. The aforesaid shares wereallotted to over 16.09 lakh shareholders in the ratio of 7.5 equity shares ofthe Company for every 100 equity shares of REVL,who held shares as on August 5,2006 (being the book closure from August 1, 2006 to August 5, 2006). The Share Certificates to allottees holding shares in certificated form arebeing dispatched. However, the electronic credit of shares to allottees holdingshares in electronic form will be effected immediately upon receipt of approvalfrom the Stock Exchanges/ Depositories. The above equity shares shall rank pari passu in all respects with the existingequity shares of the Company and shall be entitled for full dividend, if any, tobe declared for the financial year 2006-07. Kindly note that in terms of the Scheme, 90,924,724 equity shares of Rs. 10each held by REVL in the company stand extinguished and the equity share capitalof the Company after implementation of the Scheme is 213,130,309 equity sharesof Rs. 10 each. It may also please be noted that no fractional shares have been allotted. Allfractional shares have been consolidated and allotted to the Trustees, who shallsell the same and pay the net proceeds to the Company for distribution to theMembers in proportion to their respective fractional entitlements. We will forward the application for listing of these shares in due course. Kindly take this disclosure on your record. Yours faithfullyFor Reliance Energy Limited Ramesh ShenoyCompany Secretary This information is provided by RNS The company news service from the London Stock Exchange