ELECTROSTEEL STEELS LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/09/2018 ,inter alia, to consider and approve Company has received a letter dated 18.09.2018 from Vedanta Star Limited (Acquirer), wherein the Acquirer has expressed its intention to acquire up to 1961,67,342 equity shares of the Co. representing approx.10% of the paid up share capital of the Co. held by the shareholders of the Company (other than the Acquirer) at a price of INR 9.54 per equity shares calculated in terms of the Resolution Plan approved by the Kolkata Bench of NCLT vide its order dated 17.04.2018.
Accordingly, a meeting of the Board of Directors of the Company is proposed to be held on September 24, 2108 in order to consider inter alia the following:
1. To consider the proposal of delisting made by the Acquirer; and
2. Any other matters incidental thereto.
In connection with the above, please note that the Trading Window as per the Insider Trading Code of the Company shall remain closed from Wednesday, 19th September 2018 to Wednesday, 26th September, 2018 (both days inclusive).
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