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REL 'owners' to get Rs 200 for each share

Reliance Enterprises Limited has formulated a scheme that will help shareholders to sell their ''odd-lot'' shares at full value.

The scheme makes sure that the shareholder does not have to sell odd-lot shares at a discount to its value. Trust the REL Odd Lot Shares Trust has been formed to administer the scheme. Under the scheme, any shareholder can offer their odd-lot shares to the trust. The trust will be in charge of disposing of these shares.

Each share with the face value of Rs 10 will be disposed of at Rs 200. The full amount at which it is disposed -- that is Rs 200 -- will be given to the shareholder. The trust will not charge any administration or service fee from the shareholders taking advantage of this scheme.

The scheme has been formulated to help small shareholders gain liquidity since REL shares are not listed on the stock exchange. The company expects many shareholders to take advantage of this scheme.

UNI