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| Exchange Disseminated Time | With reference to the earlier announcement dated May 16, 2012, Asian Hotels (East) Ltd has now informed BSE that Robust Hotels Private Limited having its registered office at 365, Anna Salai, Teynampet City, Chennai - 600018, Tamli Nadu and owner of Hotel Hyatt Regency Chennai, a 5 Star premium business hotel located in Chennai's central business district, has converted its 8119575 0.001% p.a. and 1396000 1% p.a. Cumulative Redeemable Optionally Convertible Preference Shares (CROCPS) and issued and allotted 6,39,32,769 equity shares of face value Rs. 10/- each fully paid-up to GJS Hotel Limited, a material non-listed wholly owned Indian subsidiary of the Company.
Upon such conversion of CROCPS and issue and allotment of above 6,39,32,769 equity shares to GJS Hotels Limited, Robust Hotels Private Limited has become a subsidiary of GJS Hotels Limited and a step-down subsidiary of the Company. |
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