Business
Vedanta’s Shareholders and Creditors Strongly Endorse its Demerger Proposal with Over 99% Favorable Votes
MUMBAI, India, February 20, 2025--Vedanta’s shareholders and creditors strongly endorse its demerger proposal with over 99% favorable votes.
About this update from Vedanta Limited
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1197,"height":358,"url":"https://media.zenfs.com/en/business-wire.com/3d05ab4cbec2ff771aa25ea683a61869"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GzWDiuC_72Boso8W.T8hYw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI4NztjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/3d05ab4cbec2ff771aa25ea683a61869","width":960,"height":287},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/a1V3sL9R.AsgzgmqzTViZA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIzOTQ7aD03MTY7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/3d05ab4cbec2ff771aa25ea683a61869","width":1197,"height":358}},"lazy":false},{"type":"text","content":"MUMBAI, India, February 20, 2025--(BUSINESS WIRE)--Vedanta Limited ("Vedanta") announced in an exchange filing that the resolutions listed in its Notice of Equity Shareholders, Secured Creditors, and Unsecured Creditors dated January 17, 2025 have been passed with the requisite majority at their respective meetings held on February 18, 2025.","length":353,"tagName":"p"},{"type":"text","content":"The resolutions sought the approval of the shareholders, secured, and unsecured creditors on Vedanta’s proposed demerger scheme.","length":128,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Resolution seeking approval of shareholders: approved with 99.9987% of votes in favour on votes cast.","length":101,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Resolution seeking approval of secured creditors: approved with 99.5900 % of the valid votes cast.","length":98,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Resolution seeking approval of unsecured creditors: approved by 99.9588% of the of the valid votes cast.","length":104,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":303,"olType":false},{"type":"text","content":"The demerger will result in the creation of five independent companies:","length":71,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Vedanta Aluminium","length":17,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Vedanta Oil & Gas","length":21,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Vedanta Power","length":13,"tagName":"p","attribs":{}...