GLAS Agency Discloses Encumbrance on Vedanta Power Shares

GLAS Agency (Hong Kong) Limited, acting as agent for lenders, has disclosed an encumbrance under SEBI's Takeover Regulations on equity shares of Vedanta Power Limited (VPL) held by Vedanta Resources Limited (VRL) and its subsidiaries. This encumbrance relates to a US$2.25 billion facility agreement. The disclosure indicates that 2,204,724,753 shares, representing 56.38% of VPL's total share capital, are subject to this encumbrance. The terms of the agreement restrict the creation of further security over VPL shares and require VRL group to maintain control or a minimum 50.1% ownership if VPL becomes a Material Subsidiary.