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| Exchange Disseminated Time | Asian Hotels (East) Ltd has informed BSE that the Board of GJS Hotels Limited, a material non-listed wholly owned Indian subsidiary of the Company has at its Meeting held on May 16, 2012 exercised its option to convert 8119575 0.001% p.a. and 1396000 1% pa. Cumulative Redeemable Optionally Convertible Preference Shares (CROCPS) respectively of Robust Hotels Private Limited at an agreed conversion price into its 63932769 equity shares of the face value of Rs. 10/- each fully paid-up.
Upon conversion of the above CROCPS by Robust Hotels Private Limited by issuing and allotting the above 63932769 equity shares to GJS Hotels Limited, Robust Hotels Private Limited shall become a step-down subsidiary of the Company.
Robust Hotels Private Limited which has its registered office at 365, Anna Salai, Teynampet City, Chennai - 600018, Tamil Nadu, owns Hotel Hyatt Regency Chennai, a 5 Star premium business hotel located in Chennai’s central business district and which opened on August 08, 2011. |
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