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: -
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COMPANY NAME
CODE
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RECORD DATE
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PURPOSE
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EX-ENTITLEMENT FROM
DATE &
SETT. NO.
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Sayaji Hotel Ltd.
(523710)
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05/09/2023
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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.”
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05/09/2023
DR-607/2023-2024
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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
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