STOCKWATCH

ITC LTD. Announces Apportionment of Cost of Acquisition for ITC and ITC Hotels Shares

ITC LTD. has issued a general guidance communication for the apportionment of cost of acquisition of Ordinary Shares of ITC and Equity Shares of ITC Hotels Limited. The guidance comes in connection with the Scheme of Arrangement for demerger of the Hotels Business of ITC into ITC Hotels Limited. The communication provides details on the allotment of Equity Shares by ITCHL to the shareholders of ITC, the ratio of allotment, and the method of apportioning the total cost of acquisition of ITC shares.

• Sanctioned Scheme of Arrangement for demerger of Hotels Business from ITC into ITC Hotels Limited
• Allotment of 125,11,71,040 Equity Shares of ITC Hotels Limited to ITC shareholders
• Share Entitlement Ratio set at 1:10 for ITC and ITC Hotels Limited Shares
• Apportionment of total cost of acquisition of ITC and ITC Hotels Limited Shares provided
• ITC takes no liability for the guidance provided