The board of Tata Motors has approved a scheme of arrangement for a capital reduction of ‘A’ Ordinary shares. The company will issue Ordinary shares as a consideration for the reduction. This capital reduction consideration translates to a 23% premium to the ‘A’ Ordinary Share price and will result in a 4.2% reduction in the number of outstanding equity shares, making it value positive for all shareholders, said the company in a statement.
Tata Motors board approves scheme to simplify capital structure
The board of Tata Motors has approved a scheme of arrangement for a capital reduction of ‘A’ Ordinary shares. The company will issue Ordinary shares as a consideration for the reduction. This capital reduction consideration translates to a 23% premium to the ‘A’ Ordinary Share price and will result in a 4.2% reduction in the number of outstanding equity shares, making it value positive for all shareholders, said the company in a statement.