Reliance – Anil Dhirubhai Ambani Group Wishes 23 Lakh Reliance Investors

A Very Happy And Prosperous New Year

Clarifies Prospective Events leading to Listing of 4 Companies Arising from Reorganisation of Reliance Group

Responding to incorrect reports in a section of the media,and in the interests of over 23 lakh Reliance shareholders, the Reliance – Anil Dhirubhai Ambani Group today clarified the prospective events, leading to listing of the 4 companies arising from reorganization of the Reliance group, namely, Reliance Communication Ventures Limited, Reliance Energy Ventures Limited, Reliance Capital Ventures Limited and Global Fuel Management Services Limited (the ?Resulting Companies?).

The Record Date for determining the entitlement of shareholders of Reliance Industries Ltd. (RIL) to shares of the Resulting Companies has been announced as 25 th January 2006. The following steps are now to be taken:

  • Application to SEBI through the designated stock exchanges by each of the 4 Resulting Companies, as prescribed under clause 8.3.5 of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 read with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, for listing of shares without making an Initial Public Offer.
  • The designated stock exchanges may recommend the applications to SEBI, giving the reasons therefor, as spelt out in clause 8.3.5.2 of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.
  • SEBI approval under Rule 19(2)(b) and other applicable provisions of the Securities Contracts (Regulations) Rules, 1957 to each of the 4 Resulting Companies, for listing of shares without making an IPO.
  • Application to Stock Exchanges by all Resulting Companies for listing of Shares.
  • In-principle approval by stock exchanges for listing of shares of all Resulting Companies.
  • Compilation of data by the Registrars and Transfer Agent to determine the names of Shareholders of Reliance Industries Ltd. (RIL) as on the Record Date i.e. 25 th January 2006, who will be entitled to receive Shares of the Resulting Companies.
  • Allotment of Shares by each of the Resulting Companies, to the Shareholders of RIL as on the Record Date.
  • Printing of over 55 lakhs share certificates by the Registrars and Transfer Agents, for all RIL shareholders, holding shares in physical mode.
  • Despatch of over 55 lakhs share certificates by registered post, to RIL shareholders, holding shares in physical mode.
  • Electronic credit of shares to RIL shareholders, holding shares in demat mode.
  • Publication of detailed information in national newspapers by each of the 4 Resulting Companies, as stipulated under clause 8.3.5.4, Schedule XXVIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.
  • Final approval for listing by the Stock Exchanges.
  • Commencement of trading and official quotation of shares of the Resulting Companies.
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