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( As on 09/05/2022 18:51)

Shipping Corpn. - Update On The Scheme Of Demerger

We wish to inform you that at the meeting of Board of Directors of the company held on 06.05.2022, the Board has approved certain modifications in the Scheme of Arrangement for Demerger of Non -core assets of Shipping Corporation of India Ltd into Shipping Corporation of India Land and Assets Ltd. The said modification is subject to approval of Ministry of Ports, Shipping and Waterways (MoPSW) and DIPAM. The modified scheme of arrangement will be submitted to your good office upon the confirmation on said modification by Ministry of Ports, Shipping and Waterways (MoPSW) and DIPAM. \r\nThe said changes will not impact the Share Entitlement ratio and other major terms and conditions of the Scheme of Arrangement for the Shareholders.\r\nThis is for your information and records.\r\nThanking You.\r\n