Accorded in-principle approval for merger of the Company with Kochi Refineries Ltd. Scheme of Amalgamation Bharat Petroleum Corpn. Ltd has informed the Exchange that the BOD's of the Company, at its meeting held on January 17, 2005, has approved the Scheme of Amalgamation of Kochi Refineries Limited with Bharat Petroleum Corporation Limited. The BOD's has also recommended a swap ratio of 1: 2.25 i.e. four fully paid up equity shares of Rs.10/- each of Bharat Petroleum Corporation Limited for every nine fully paid up equity shares of Kochi Refineries Limited. The above approval is however, subject to the necessary approvals of the Govt. of India, shareholders / creditors of BPCL / KRL and other Judicial / Regulatory authorities, as may be required under the applicable Laws. (As Per NSE Bulletin Date 18/01/2005) The company has informed about the developments related to the proposal for merger of Kochi Refineries Ltd (KRL) with the Company, as below: 1. The Joint Secretary, Ministry of Company Affairs vide his Order dated November 28, 2005 has- a. Directed KRL and the Company to convene the Extraordinary General Meetings (EGM) of the shareholders to consider the Scheme of Merger; b. Appointed Shri. Ashok Sinha, C&MD, of the Company as Chairperson to conduct the EGM of the equity shareholders of the Company and Mr. Justice Santosh N Hegde (Retd) as Chairperson to conduct the EGM of KRL; c. Authorised the Chairpersons of the EGMs to fix the date, venue and time for the said meetings; and d. Granted dispensation from holding the meetings of the Secured and Unsecured Creditors of KRL and the Company. 2. The EGM of the Company will be held on January 16, 2006. (As per BSE Bulletin dated on 02/12/2005) EGM 16/01/2006 To consider and, if thought fit, approve, with or without modifications, the Arrangement embodied in the Scheme of Amalgamation proposed to be entered into between Kochi Refineries Ltd and with the Company, pursuant to the Order of the Department of Company Affairs, New Delhi. (As per BSE Bulletin dated on 26/12/2005) Bharat Petroleum Corpn. Ltd has informed the Exchange that : (1) Pursuant to the directions of Department of Company Affairs (DCA) in their Order dated November 28, 2005, a meeting of the equity shareholders of BPCL was convened to consider the Scheme of Amalgamation of KRL with BPCL. (As per NSE Bulletin dated on 20/01/2006) The company has informed that the members at the Extra Ordinary General Meeting (EGM) held on January 16, 2006, have approved the Scheme of Amalgamation of Kochi Refineries Ltd with the Company, with an overwhelming majority. (As per BSE Bulletin dated on 20/01/2006) Bharat Petroleum Corpn. Ltd has informed the Exchange that the Government of India, Ministry of Company Affairs, vide their order dated August 18, 2006, have sanctioned the Scheme of Amalgamation of Kochi Refineries Ltd. with Bharat Petroleum Corporation Ltd. Certified Copy of the said order has been filed by BPCL with the Registrar of Companies, Mumbai on August 21, 2006. (As per NSE Bulletin dated on 21/08/2006) Bharat Petroleum Corpn. Ltd has informed the Exchange that the Board of Directors of Bharat Petroleum Corporation Ltd (BPCL) has fixed September 29, 2006, as the 'Record Date' for shares of Kochi Refineries Ltd (KRL) for determining the names of the Shareholders / Beneficial Owners holding equity shares of KRL, who would be entitled for the allotment/issue of equity shares of BPCL, as per the Registers of Members maintained by KRL/ Depositories, in the Swap Ratio as provided in the Scheme of Amalgamation i.e. 4 fully paid up equity shares of Rs.10/- each of BPCL for every 9 fully paid up equity shares of Rs.10/- each of KRL. (As per NSE Bulletin dated on 30/08/2006) Bharat Petroleum Corporation Ltd (BPCL) has informed BSE that the Board of Directors of the Company at its meeting held on September 26, 2006, has recommended a dividend @ 25 % (i.e. Rs 2.50 per fully Paid up equity share of Rs 10/- each) for the financial year 2005-06, on the enlarged paid up equity share capital of Rs 361.54 crore after the amalgamation of Kochi Refineries Ltd with the Company. (As per BSE Annocement website dated on 26/09/2006) Trading members of the Exchange are hereby informed that the under mentioned new securities of Bharat Petroleum Corporation Ltd. (Scrip Code: 500547, ISIN No: INE029A01011) are listed and permitted for trading on the Exchange with effect from Wednesday, November 29, 2006. Securities 6,15,42,124* Equity Shares of Rs.10/- each issued to shareholders of erstwhile Kochi Refineries Ltd. pursuant to Scheme of Amalgamation of the Company. Dist. Nos. 30,00,00,001 to 36,15,42,124 * These shares are ranking pari-passu with the old equity shares of the company. 2. The brief particulars of the Scheme of Amalgamation are as mentioned below: a) The Scheme of Amalgamation of the company was approved by the Ministry of Companies Affairs, New Delhi vide its order dated August 18, 2006. b) Appointed Date: April 1, 2004. c) Effective Date: August 21, 2006. d) Date of Allotment: October 13, 2006 e) Exchange Ratio - For every 9 fully paid up equity shares of Rs.10/- each held in erstwhile M/s. Kochi Refineries Ltd., 4 fully paid up equity share of Rs.10 /- each of the company has been issued. 3. As per Exchange Notice No. 20060911-23 dated September 11, 2006, the transferor company viz. Kochi Refineries Ltd. had fixed September 29, 2006 as 'Record Date', for giving effect to the Scheme and accordingly, trading in the shares of the said transferor company was stopped with effect from September 22, 2006. 4. The company's financial year ends on 31st March. (As per BSE Notice dated on 28/11/2006)