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Essar Shipping Ltd — Board/Management Information 2022
May 31, 2022
60311_rns_2022-05-31_53c44136-64e8-4b15-aa0c-fabb9a91ca6f.pdf
Board/Management Information
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Date : 31[st] May, 2022
Essar Shipping Limited Essar House 11 K.K.Marg Mahalaxmi Mumbai- 400 034 Corporate Identification Number L61200GJ2010PLC060285 T + 91 22 6660 1100 F + 91 22 2354 4312 www.essar.com
The Manager Listing Department BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001 Fax: +91 22 2272 2082/3132 BSE Code: 533704
The Manager The Manager Bandra Kurla Complex Bandra Kurla Complex “Exchange Plaza” “Exchange Plaza” National Stock Exchange of India Limited National Stock Exchange of India Limited Listing Department Wholesale Debt Department Bandra (E) Bandra (E) Fax: +91 22 2659 8237/38 Fax: +91 22 2659 8237/38 Mumbai – 400 051 Mumbai – 400 051 NSE Code: ESSARSHPNG NSE Code: ESSARSHPNG
Dear Sir/Madam,
Subject: Extract of Board Meeting Minutes for Re-classification of Promoters under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
With reference to the captioned subject and with reference to letter submitted to Stock Exchange on May 12, 2022 with regard to reclassification of shares of M/s. Imperial Consultants & Securities Limited, the said matter was discussed by the Board in its Board Meeting held on Monday, May 30, 2022.
In accordance with Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outcome of the Board Meeting, whereby the Board of Directors have approved (subject to the approval of the Members and Stock exchanges and/or such other
Essar Shipping Limited
Registered Office: EBTSL Premises, ER-2 Building (Admn Bldg), Salaya, 44 KM, P.O. Box No.7, Taluka Khambalia, Devbhumi Dwarka,Gujarat-361305 T +91 2833 661444 F +91 2833661366 Email Id: [email protected]
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approvals, if any, as may be required) reclassification of M/s. Imperial Consultants & Securities Limited from “promoter & promoter group” to “public category” is enclosed.
Kindly take the above information on record.
Thanking you, Yours faithfully, For Essar Shipping Limited
NISHA MANOJ BARNWAL Digitally signed by NISHA MANOJ BARNWAL DN: c=IN, o=PERSONAL, pseudonym=39e0629401869202d23075fefc72f31375ab4768cbc13c0c6dea7adec0c5715c, postalCode=421501, st=MAHARASHTRA, serialNumber=fd05927de16feeee2841c8b912e43913bfbb4740f57b0c1b89b0e13b1bd40a55, cn=NISHA MANOJ BARNWAL Date: 2022.05.31 10:16:46 +05'30'
Nisha Barnwal Company Secretary and Compliance Officer Membership No A66804
Essar Shipping Limited
Registered Office: EBTSL Premises, ER-2 Building (Admn Bldg), Salaya, 44 KM, P.O. Box No.7, Taluka Khambalia, Devbhumi Dwarka,Gujarat-361305 T +91 2833 661444 F +91 2833661366 Email Id: [email protected]
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Essar Shipping Limited Essar House 11 K.K.Marg Mahalaxmi Mumbai- 400 034 Corporate Identification Number L61200GJ2010PLC060285 T + 91 22 6660 1100 F + 91 22 2354 4312 www.essar.com
CERTIFIED TRUE COPY OF EXTRACT OF THE MINUTES OF THE 76[TH] BOARD MEETING OF ESSAR SHIPPING LIMITED HELD ON MONDAY, MAY 30, 2022 AT 11.30 AM AND CONCLUDED AT 5.15 PM HELD THROUGH VIDEO CONFERENCE AND RECORDED AT 5[TH] FLOOR, ESSAR HOUSE, 11 K.K. MARG, MAHLAXAMI, MUMBAI400034
To consider and approve the requests received from M/s. Imperial Consultants & Securities Limited for re-classification from “Promoter & Promoter Group Category to public Category”
The Board was informed that M/s. Imperial Consultants & Securities Limited holding 68,78,409 (Sixty Eight Lakh Seventy eight Thousand Four hundred and nine only) equity shares had vide their letter dated May 12, 2022 (received by the Company on May 12, 2022) requested the Company for re-classification of their shareholding from Promoter & Promoter Group Category to Public Category.
The Board was also informed about the rationale for such re-classification that M/s. Imperial Consultants & Securities are financially independent entity who takes independent investment decisions and are no way related to any of the business carried out by the Company. Further they are not engaged in the Management or day to day affairs of the Company and also do not have any right either to appoint any Director of the Company or an ability to control the management or policy decisions of the Company in any manner whatsoever including by virtue of their shareholding and that none of their act would influence the decision taken by the Company.
Further the Board was also briefed that M/s. Imperial Consultants & Securities Limited had specifically mentioned in their respective requests that they are satisfying all the conditions specified in sub clause (i) to (vii) of clause (b) of sub-regulation 3 of Regulation 31A of SEBI
Essar Shipping Limited Registered Office: EBTSL Premises, ER-2 Building (Admn Bldg), Salaya, 44 KM, P.O. Box No.7, Taluka Khambalia, Devbhumi Dwarka,Gujarat-361305 T +91 2833 661444 F +91 2833661366 Email Id: [email protected]
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(Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Listing Regulations') and also confirmed that at all times from the date of such re-classification/removal of name, they shall continue to comply with conditions mentioned in sub-clauses (i), (ii) and (iii) of
Clause (b) of sub-regulation 3 of Regulation 31A and shall also comply with conditions mentioned at Sub- clause (iv) and (v) of clause (b) of Sub- regulation (3) of Regulation 31A of the Listing Regulations for a period of not less than three years from the date of such reclassification/removal of name, failing which they shall automatically be reclassified as promoter/persons belonging to Promoter Group as applicable.
Accordingly on the basis of the rationale and the confirmation provided by them in accordance with provisions of Regulation 31A of the Listing Regulations the Board was of the view that the above mentioned requests for reclassification/removal of name be accepted and approved by the Board of Directors of the Company, which shall be subject to the approval Members of the company, Stock Exchanges and/or such other approval, if any, as may be necessary in this regard.
The Board was also informed that none of the Directors of the company is/are interested in this resolution.
The Board considered the matter and passed the following resolution unanimously:
“RESOLVED THAT pursuant to the provisions of Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any other relevant provisions, including any modification(s) or re-enactment(s) thereof for the time being in force, subject to approval of members of the Company; approval of the Board is hereby accorded for re-classification of Imperial Consultants Limited Imperial Consultants Limited from “Promoter & Promoter Group Category” to “Public Category”
RESOLVED FURTHER THAT the Board hereby authorizes the Company Secretary to take all such steps as may be necessary, proper and expedient to give effect to the foregoing resolution.”
For Essar Shipping Limited
Digitally signed by NISHA MANOJ BARNWAL NISHA DN: c=IN, o=PERSONAL, pseudonym=39e0629401869202d23075fefc72f31375ab4768cbc13c0c6dea7ad ec0c5715c, postalCode=421501, MANOJ st=MAHARASHTRA, serialNumber=fd05927de16feeee2841c 8b912e43913bfbb4740f57b0c1b89b0e1 3b1bd40a55, cn=NISHA MANOJ BARNWAL BARNWAL Date: 2022.05.31 10:17:17 +05'30' Nisha Barnwal Company Secretary & Compliance Officer ACS: 66804
Essar Shipping Limited Registered Office: EBTSL Premises, ER-2 Building (Admn Bldg), Salaya, 44 KM, P.O. Box No.7, Taluka Khambalia, Devbhumi Dwarka,Gujarat-361305 T +91 2833 661444 F +91 2833661366 Email Id: [email protected]
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