Reliance Energy allots shares to REVL shareholders

New Delhi, Aug 7: Reliance Energy Ltd today said its Committee of Directors has allotted 9,17,34,781 equity shares of Rs 10 each to the shareholders of the erstwhile Reliance Energy Ventures Ltd (REVL), in terms of the Scheme of Amalgamation and Arrangement between REVL and the company.

It said this is as per sanction of the High Court of Judicature at Bombay in June this year. These shares were allotted to over 16.09 lakh shareholders in the ratio of 7.5 equity shares of the company for every 100 equity shares of REVL, who held shares as on August 5, 2006 (being the book closure from August 1, 2006 to August 5, 2006).

These equity shares shall rank pari passu in all respects with the existing equity shares of the company and shall be entitled for full dividend, if any, to be declared for the financial year 2006-07.

In terms of the scheme, 9,09,24,724 equity shares of Rs 10 each held by REVL in the company stand extinguished and the equity share capital of Reliance Energy, after implementation of the scheme is 21,31,30,309 equity shares of Rs 10 each.

Further, the cmpany said no fractional shares have been allotted.

All fractional shares have been consolidated and allotted to the trustees, who shall sell the same and pay the net proceeds to the company for distribution to the members in proportion to their respective fractional entitlements.

Meanwhile, Reliance Capital Ltd has allotted 6,11,56,521 equity shares of Rs 10 each to the shareholders of the erstwhile Reliance Capital Ventures Ltd (RCVL), in terms of the Scheme of Amalgamation and Arrangement between RCVL and the company. These shares were allotted to over 13.62 lakhs shareholders in the ratio of five equity shares of Reliance Capital for every 100 equity shares of RCVL, who held shares as on August 5, 2006 (being the book closure from August 1, 2006 to August 5, 2006).

UNI