Indian Hotels - Updates on Rights Issue
Indian Hotels Company Ltd has informed BSE that the Board of Directors of the Company on April 09, 2008, has approved the following changes the Terms of Issue of 6% Non-Convertible Debentures (”NCDs”) of Rs 100/- each with detachable Warrants:
1. The Warrant Exercise Period has been revised and shall now commence from September 01, 2009 and will close on September 30, 2009 (both days inclusive), as against the terms mentioned in the Letter of Offer and Abridged Letter of Offer, wherein the Warrant Exercise Period was scheduled to commence from September 01, 2008 and close on September 30, 2008.
2. To provide an opportunity to the Equity Shareholders to exercise their Rights entitlement based on the revised Terms of the Issue of NCDs with Detachable Warrants, the Issue subscription period has been extending the Issue Closing Date to April 24, 2008 (the earlier Issue Closing Date was April 15, 2008).
3. In view of the above change and as directed by SEBI, those investors who have already submitted their Applications before the date of publishing the “Notice to Equity Shareholders of the Company”, will have an option to withdraw their Applications by sending in a written request for the withdrawal of their Applications only to Intime Spectrum Registry Ltd, the Registrar to the Issue. The written request for such withdrawal of the Applications should reach Intime Spectrum Registry Ltd on or before eight (8) days from the revised Issue Closing Date, i.e. or before May 02, 2008.
Tags: Indian Hotels