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Vedanta Ltd. Company History and Annual Growth Details

YEAR EVENTS
1954
-Baron Ludovic Toeplitz lands in Goa. With the financial backing of an enterprising Italian, Alessandro, he acquires the Orosso Dongor Mining Concession in North Goa and starts a Company called Scambi Economici S.A. Goa

1955
-The Company renamed Sesa Goa Limitada is bought over jointly by Gewerkeshaft Exploration e Bergbau represented by Eugene Plotzki and by Ferromin S.p.A. of Italy ( a subsidiary of Finsider S.p.A. of the IRI Group) represented by Paolo Tradardi, both parties having equal shareholding

1957
-Another company started in Goa, Mingoa Sociedade Minieral Goesa S.a.r.l. is incorporated with Fiat of Torino as the principal shareholder.

1963
-Finsider S.p.A. acquires the West German interest in Sesa Goa Limitada and also all the shares of Mingoa.


1965 - With the application of the Companies Act 1956, to Goa, it was
incorporated under the Act on 25th June, as a Private Limited
Company under the name Sesa Goa Pvt. Ltd. It was wholly owned
subsidiary of Istututo per la Recostruzion Industriale, an
Italian Govt. controlled company.

1978 - 14,000 Bonus shares issued in prop. 2:3.

1979 - In April, another wholly owned subsidiary of Finsider S.P.A.,
Italy was also engaged in the mining and export of iron ore.
Mingoa Pvt. Ltd., was amalgamated with the company. As per the
Scheme of Amalgamation, 38,500 No. of equity shares of Rs 500
each were allotted to Finsider S.P.A., Italy without payment in
cash.

1981 - The Company was converted into a public limited company on 25th
March.

- During November, Finsider S.P.A., Italy offered for sale out of
its holding in the Company 22,05,000 No. of equity shares of Rs
10 each at a premium of Rs 2.50 per share in the following
manner: (i) 1,83,750 shares reserved for firm allotment to public
financial institutions, (ii) 1,83,750 shares reserved for firm
allotment to the business associates and employees of the Company
and (iii) 18,37,500 shares to the public.

1984 - A beneficiation plant with a throughput capacity of 15 lakhs
tonnes was being set up in two stages to improve the quality and
marketability of the ore.

1986 - The first phase of the beneficiation plant and with a capacity
of 7.5 lakh tonnes per year, was commissioned in January.

- The Company decided to enter a new area of activity of
information systems and services in collaboration with STET, the
financial holding for electronics in the IRI Group.

- 14,70,000 Bonus shares issued in prop. 2:5.

1987 - The ship building division suffered a setback due to labour
problems with subcontractors resulting in delay in the completion
of some of the vessels.

- The Ship building division proposed to carry out a programme of
phased investment to upgrade the shipyard's technological
capability as also to increase its capacity.

- The Company obtained initial registration for the manufacture of
60,000 tonnes of low phos pig iron at Navelim near Sanquelim in
Goa.

- The Company obtained the necessary pollution clearance for the
project and a final technological evaluation of the project was
undertaken to maximise operational efficiencies in future.

- A biotech pilot plant was set up in the mines for the treatment
of tailing waste with micro organisms which feed on the
mangniferous clay.

- Along with indigenous stern gear, particularly the fishing of
marine propellers, a separator tank capable of efficiently
recovering iron ore fines from cyclone under-flows was developed.

- Approval from Govt. was received for technology agreement for
manufacture of a sophisticated fishing trawler based on drawings
from a Norwegian Company and Technical collaboration with
Fincantieri of Italy, member of the IRI group was entered into
for the technological upgradation of the shipyard.

1988 - Sesa Seat Information Systems Pvt. Ltd., was incorporated in
January, as a subsidiary of the Company. Effective 29th March,
1993, the Company ceased to be a subsidiary of the company.

1989 - The Company laid the foundation stone of the project to
manufacture 1,50,000 tonnes per year of low phosphorus pig iron
at Amona near Sanquelim in Goa.

1990 - On 11th January, the Company issued 6,48,270-12.5% secured partly
convertible debentures of Rs 110 each. Of these, 6,17,400
debentures were offered to the equity shareholders on rights
basis in the ratio of 1 debenture: 5 equity shares (all were
taken up) and 30,870 debentures offered to the employees of the
Company (all were taken up).

- The convertible portion of Rs 60 per debenture was converted into
2 equity shares of Rs 10 each, at a premium of Rs 20 per share on
1st February, 1992.

- The amount of Rs 50 representing the non-convertible portion will
be redeemed in 3 instalments of Rs 15, Rs 15 and Rs 20 at the
expiry of the 6th, 7th and 8th year respectively from the date of
allotment.

- With a view to manufacturing indigenous coke, the Company in
collaboration with Kembla Coal & Coke Pvt. Ltd., Australia set
up Sesa Kembla Coke Co. Pvt. Ltd., Kembla Coal & Coke Pvt. Ltd.,
Australia is to participate to the extent of 40% in the share
capital of the new venture through its subsidiary Kembla Goa
holdings Ltd.

1991 - 12,96,540 No. of equity shares allotted (prem. Rs 20 per share)
in conversion of debs. Another 8,64,360 No. of equity shares
(prem. Rs 20 per share) allotted to Finalder international S.A.
Luxembourg to maintain their equity stake in this company at the
existing level.

1992 - The pig iron plant was commissioned. A new Company in the name
of Sesa Industries Ltd., was set up for implementing expansion
and diversification plans in the steel related areas.

- The Sesa Industries Ltd., set up a second pig iron plant with a
capacity of 90,000 TPA of pig iron. It was proposed to make a
preferential issue of its equity shares (prem. Rs 12.50 per
share) to the shareholders of Sesa Goa Ltd., in the ratio of 1:2.

1993 - Two 2500 tonnes barges and ten small steel boats were delivered
by the shipbuilding division.

- 73,05,900 bonus shares allotted in prop. 1:1. 32,80,220 No. of
equity shares (prem. Rs 50) allotted to Finalder International
Co. Ltd. to maintain their stake at 51%.

1994 - Second blast furnace was commissioned in the pig iron plant of
Sesa Industries.

1995 - 17,89,200 rights shares issued (prop. 1:10 prem. Rs 90). Of
these 47,613 shares were kept in abeyance.

1996 - During 7th, November, there was an amalgamation of the 100%
subsidiary, Sesa Shipping Ltd. with Sesa Goa Ltd.

- The Company owns 21 mining concessions. These mining concessions
were granted to the Company under the Portuguese Law according to
which they are to run in perpetuity so long as the terms of the
concessions are complied with.

- Appropriate agreement was been reached whereby shares of
Australian collaborators were taken over by the company making
Sesa Kembla Coke Company a 100% subsidiary. Sesa Industries Ltd.
is a subsidiary of the Company.

- 44,898 shares issued kept in abeyance in the rights issue.

1997 - The Company installed a plant for the recovery of pellet feed
from the tailings through high intensity magnetic separating
process at Codli Mines.

- 2,525 shares kept in abeyance issued.

- The company manufacturers 1.8 lac tonnes of pig iron through a
subsidiary and producers metallurgical coke through a joint
venture with Kembla Coal and Coke, an Australian company.

- The company, it has become a subsidiary of Mitsui, with two
Mitsui directors now on the board.

- Sesa Goa Ltd. is learnt to be all set to acquire the entire
equity holding of its Australian collaborator, Kembla Goa
Holdings Ltd, Mauritius, in Sesa Kembla Coke Company Ltd
(SKCCL), a subsidiary of Sesa Goa.

- Sesa would also be supplying hot metal to the proposed Teksid
plant, a subsidiary of Fiat, being set up here.

1998 - Sesa Goa became part of the Mitsui family after the latter took
over Finsider International of Italy a couple of years ago.

1999 - The company has acquired Narrain Mines, Karnataka, to shield
itself from any price increase or variation in the quality of
iron ore.

- Sesa Goa is entered into a technical collaboration with Vaagen
Verft, Norway, to manufacture fishing transfers.

2000 - The Company has closed down its Engineering Unit at Sirsaim and its
workshop at Sanquelim with effect from September 19.

- The company has introduced Voluntary Retirement Scheme during the year
to restructure the organisation.

2002

-Sesa Goa Ltd informs that the Board of Directors of the Company have accepted the withdrawal of nomination of Dr K S Subramanian as Director by ICICI Ltd and
Mr K R V Subramanian has been appointed as an Additional Director of the Company
w e f May 22, 2002.

2003

-The Board of Directors of Sesa Goa Ltd at its meeting held today (January 29, 2003) has appointed Mr Leonard Anthony Dean, as Managing Director of the company wef April 01, 2003 in place of C M Brown whose term expires on March 31, 2003.

-Receives Iron ore supply order from Pakistan Steel Mills for next 5 years.

2004
-Sesa Group completes 50 years of operations.
-Sesa Goa's Shipbuilding Division builds its 62nd vessel, a 2200T barge for its own fleet.
-Sesa Industries and Sesa Kembla sign an agreement with M/s Goa Energy Private Limited, a part of Videocon Group, to set up a 30MW Power plant at Amona.
-Iron ore sales crosses 8.5 million MT.
-First sale of Sesa Kembla technology effected.
-Compact charging system for coke plant is being commissioned.
-Sesa Kembla Coke Comany Limited, a 100% subsidiary of Sesa Goa Limited, is merged with Sesa Goa Limited with effect from 1 April 2004.
-Iron ore sales crossed 9.8 million tonnes.

2005
-Sesa Goa issues bonus shares to its shareholders.
-Sesa Group declares a final dividend of 200% in addition to an interim dividend of 50% on the pre-bonus share capital.
-Forbes Asia ranks Sesa Goa as one of Asia's 200 companies with sales than 1 billion US $ in its 'Best Under A Billion' study.
2006
-Dun & Bradstreet ranks Sesa Goa as the 4th best in the Indian Mining Sector among India's top 500 companies.
-Sesa Industries Limited is ranked 8th Best transitioning medium enterprises in a study conducted by Citigroup and IMA India.
-Iron ore sales rise to 10.87 million tonnes in 2006 - 07.
-Sesa Group records its highest profit in 2006 - 07 and declares a dividend of 400%.
- Vedanta Resources plc, a diversified metals and mining group, listed on the London Stock Exchange acquires 51% controlling stake in Sesa Goa Limited from Mitsui & Co. Ltd.

2007
- Iron ore sales rise to 10.87 million tonnes in 2006 - 07.

2008
-Iron ore sales rise to 12.39 million tonnes in 2007 - 08.

-The Company has issued Bonus Shares in the Ratio of 1:1.

- The Company has splits its face value from Rs10/- to Rs1/-.

2009
-Sesa Goa Limited and Dempo Group have signed a definitive Share Purchase Agreement under which Sesa has acquired all the outstanding common shares of VS Dempo & Co. Private Limited, along with its 100% equity shares of Dempo Mining Corporation Pvt. Ltd and 50% equity shares of Goa Maritime Private Limited.
 
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