Investors who buy shares of Reliance Industries after January 17 or sell such shares before that date will not be entitled to get free shares of four Anil Ambani group companies, which have been demerged from the firm controlled by Mukesh Ambani.
Clearing the haze on record date and entitlement of RIL shareholders, the ADAE group on Monday said: "Investors, who buy shares of RIL on the stock exchanges on January 18, 2006 and thereafter will not be entitled to free shares of the four (ADAE) companies."
Similarly, investors, who sell RIL shares on the bourses up to and including January 17, will not get free shares of ADAE group companies -- Reliance Communication Ventures Ltd, Reliance Energy Ventures Ltd, Reliance Capital Ventures Ltd and Global Fuel Management Services Ltd.
Last week, RIL fixed January 25 as "record date" for allocating its shareholders free shares of ADAE companies that were demerged from it.
So, investors whose names appear in the Register of Members as shareholders of RIL as on January 25 will alone be entitled to the ADAE companies' shares.
Ruling out listing of shares and derivative contracts of its four group companies on and around January 18, the ADAE group also said "Reliance-Anil Dhirubhai Ambani Group will endeavour to list the shares of the four resulting companies at the earliest, in the first quarter of 2006."
ADAE is now considering applying to Securities and Exchange Board of India and the stock exchanges to list the shares of four companies in bourses without making a public offer, as per Sebi (disclosure and investor protection) guideline and Securities Contracts (regulation) Rules.
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