Indian Hotels - Updates on Rights Issue
With reference to the Rights Issue of Indian Hotels Company Ltd, J M Financial Consultants Pvt Ltd, (”Lead Manager to the Rights Issue”) has informed BSE about the following changes in the Terms of Issue of “6% Non-Convertible Debentures” (”NCDs”) of Rs 100 each with detachable Warrants and the same has been approved by the Board of Directors of the Company on April 09, 2008:
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 revised by 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 Data, i.e. on or before May 02, 2008.
Tags: Indian Hotels