Thomas Cook (India) Ltd. Announces Composite Scheme of Arrangement Including Demerger, Consolidation of Share Capital, Merger, and Reduction of Share Capital

Thomas Cook (India) Ltd. has announced a Composite Scheme of Arrangement involving a demerger, consolidation of share capital, merger, and reduction of share capital. The demerger will see the Demerged Undertaking of the company transferred to Sterling Holiday Resorts Limited. The Consolidation of Share Capital will involve the consolidation of four equity shares of TCIL into one equity share. The Merger will see the absorption of TCVSL, JTSL and BTSL into TCIL. The Reduction of Share Capital will reduce the face value of paid-up equity shares of TCIL from INR 4 to INR 3 per equity share. The Scheme is subject to the receipt of requisite approvals from shareholders, creditors, jurisdictional Hon’ble National Company Law Tribunal, SEBI, BSE, NSE, and other regulatory authorities. The Appointed Date for the Scheme is the Effective Date.