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| Exchange Disseminated Time | Asian Hotels (East) Ltd has informed BSE that the Board of Directors of the Company vide a circular resolution dated on April 30, 2011, inter alia, has considered and approved the following:
1. Issue and allotment of 25,940 and 12,970 equity shares of face value of Rs. 10/- each respectively, aggregating to 38,910 equity shares of face value of Rs. 10/- each of the Company to Fineline Holdings Ltd, Mauritius and UDT Enterprises Pty Ltd, Australia pursuant to conversion of their total holding of 27,780 1% Fully Convertible Preference Shares of Rs. 10/- each (FCPS) in terms of Clause 5.3.1 of the Scheme of Arrangement and De-merger sanctioned by the Hon'ble High Court of Delhi on January 13, 2010 which became effective on February 11, 2010 being the Effective Date retrospectively with effect from October 31, 2009 being the Appointed Date of the sanctioned scheme.
Consequent to the aforesaid issue and allotment, the paid-up equity capital of the Company has gone up from 1,14,01,782 equity shares of Rs. 10/- each to 1,14,40,692 equity shares of Rs. 10/- each.
Necessary steps are being taken to list these 38,910 equity shares of Rs. 10/- each with the Stock Exchanges where the equity shares of the Company are already listed and traded.
2. appointment of Mr. Navneet Garg, a Chartered Accountant, as an Alternate Director to Mr. R. S. Jhawar on the Board of the Company pursuant to Section 313 of the Companies Act, 1956. |
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