Sterlite Industries India Ltd has informed that in view of the recent changes in the global financial markets, and investor feedback an urgent meeting of the Board of Directors of the Company was convened on September 24, 2008 to review the proposed Restructuring Scheme approved in the meeting held on September 09, 2008. After deliberations, the Board has decided not to pursue the proposed Restructuring Scheme.
The Company is committed to simplifying and streamlining the Group Corporate structure in the interest of all shareholders.
In this regard the Company has issued the Press Release titled Vedanta Not To Pursue Proposed Group Restructuring (the Restructuring)
Press Release:
The Restructuring announced by Vedanta Resources plc (Vedanta) on September 09, 2008 was a direct response to shareholder requests to simplify the current corporate structure and eliminate conflicts of interest.
In view of the recent changes in global financial, markets and investor feedback, Vedanta has decided not to pursue the proposed group restructuring.
Vedanta remains committed to simplifying and streamlining its corporate structure in the interests of all shareholders.
The Company is committed to simplifying and streamlining the Group Corporate structure in the interest of all shareholders.
In this regard the Company has issued the Press Release titled Vedanta Not To Pursue Proposed Group Restructuring (the Restructuring)
Press Release:
The Restructuring announced by Vedanta Resources plc (Vedanta) on September 09, 2008 was a direct response to shareholder requests to simplify the current corporate structure and eliminate conflicts of interest.
In view of the recent changes in global financial, markets and investor feedback, Vedanta has decided not to pursue the proposed group restructuring.
Vedanta remains committed to simplifying and streamlining its corporate structure in the interests of all shareholders.
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