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NOTICES
Notice No.   20230831-47   Notice Date   31 Aug 2023
Category   Corporate Actions   Segment   Equity
Subject   Scheme of Arrangement (Demerger) of Sayaji Hotel Ltd. (Scrip Code 523710)
 
Content

Trading Members of the Exchange are hereby informed that, pursuant to the Composite Scheme of Arrangement (Demerger and Amalgamation) as approved by the Hon'ble National Company Law Tribunal, Division Bench II, Chennai, Sayaji Hotel Ltd., has fixed Record Date for the purpose of Demerger and for determining the entitlement of the shareholders of the Company, as per details given below: -

COMPANY NAME

CODE

RECORD DATE

PURPOSE

EX-ENTITLEMENT  FROM

DATE &

SETT. NO.

Sayaji Hotel Ltd.

(523710)

05/09/2023

 

 

As per Scheme of Arrangement (Demerger and Amalgamation) sanctioned by the Hon'ble National Company Law Tribunal, Division Bench II, Chennai, inter alia, between, Sayaji Hotel Ltd. (Demerged Company) and Sayaji Hotel (Indore) Limited (Formerly known as Sayaji Hotels (Vadodara) Limited) (Resulting Company 1) and Sayaji Hotel (Pune) Limited (Resulting Company 2) and Their Respective Shareholders and Creditors;

 

(1) Demerger of Indore business:

 

In consideration of Demerger of of entire Indore business of Sayaji Hotel Ltd  INTO   Sayaji Hotel (Indore) Limited,      Sayaji Hotel (Indore) Limited shall  issue and allot Equity Shares to the eligible Shareholders of Sayaji Hotel Ltd., in the following proportion:-

 

“4 (Four) Fully Paid-Up Equity Shares of Rs.10/- each of Sayaji Hotel (Indore) Limited  shall be issued and alloted for every 23 (Twenty-Three) Fully Paid-Up Equity Shares of Rs.10/- each  held in Sayaji Hotel Ltd.”

 

 

(2)  Demerger of Baroda business and Pune business:

 

In consideration of Demerger of  entire Baroda and Pune  business of Sayaji Hotel Ltd INTO  Sayaji Hotel (Pune) Limited,    Sayaji Hotel (Pune) Limited shall  issue and allot Equity Shares to the eligible Shareholders of Sayaji Hotel Ltd., in the following proportion:-

 

“4 (Four) Fully Paid-up Equity Shares of Rs.10/- each of Sayaji Hotel (Pune) Limited shall be issued and alloted for every 23 (Twenty-Three) Fully Paid-Up Equity Shares of Rs.10/- each  held in Sayaji Hotel Ltd.”

05/09/2023

DR-607/2023-2024

 

Note:

 

(1)    Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010, Trading members are hereby informed that the trading in the Equity Shares of Sayaji Hotel Ltd shall continue to remain in 'XT’ group  till further Notice.    and 

 

(2)   Pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012, the Sayaji Hotel Ltd shall be a part of Call Auction  in  Pre-open Session (Special Pre- open Session (SPOS)) on 5th September, 2023.  For further information on SPOS, the trading members are requested to refer to the Exchanges notice no. 20120216-29 dated February 16, 2012 on Enabling Special Pre-open Session.

 

 

Subject to compliance with requisite formalities, the Equity Shares of the Resulting Companies i.e. (1) Sayaji Hotel (Indore) Limited  and (2)  Sayaji Hotel (Pune) Limited will be listed on BSE Limited.

 

 

 

Marian Dsouza

Senior Manager –Listing Operations (CRD)

August 31, 2023