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GL Hotels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has transacted the following :

1. Recommended a dividend of Rs 1.50 per Equity share (face value of Rs 10/- per equity share) for the Financial year ended March 31, 2008, subject to the approval of shareholders at ensuing Annual General Meeting of the Company.

2. Decided to sub divide the 1,72,89,012 Equity shares of Rs 10/-each in to equity shares of Rs 2/? each, which is subject to the approval of shareholders in the ensuing Annual General Meeting of the Company.

JM Financial Consultants Pvt Ltd (”Manager to the Offer”) on behalf of Dunearn Investments (Mauritius) Pte Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the shareholders of GL Hotels Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated July 28, 2007 & Corrigendum to the PA dated March 03, 2008 under the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 [the "SEBI (SAST) Regulations"] to acquire upto 20.00% of the Emerging Voting Capital of the Target Company at a price of Rs 283.42 per equity share, payable in cash are as follows.

Details of the acquisition:

¹ As a percentage of the emerging Voting Capital as defined in the Public Announcement dated June 28, 2007.

JM Financial Consultants Pvt Ltd in their capacity as “Manager to the Offer” has informed BSE about the following additional corrigendum to the shareholders of GL Hotels Ltd (Target Company).

“This Corrigendum is being issued by JM Financial Consultants Pvt Ltd (”Manager to the Offer”) on behalf of Dunearn Investments (Mauritius) Pte Ltd and should be read in conjunction with the Corrigendum to the Public Announcement issued on March 03, 2008 (Corrigendum PA).

The first line of the corrigendum PA should be read as “This corrigendum to the Public Announcement is being issued by JM Financial Consultants Pvt Ltd (”Manager to the Offer”), on behalf of Dunearn Investments (Mauritius) Pte Ltd” instead of “This corrigendum to the Public Announcement is being issued by JM Financial Consultants Pvt Ltd (”Manager to the Offer”), on behalf of GL Hotels Ltd.”

JM Financial Consultants Pvt Ltd in their capacity as “Manager to the Offer” has issued this Corrigendum to the Public Announcement, which is in continuation of earlier public announcement issued on July 28, 2007 for the acquisition of shares from the public shareholders of GL Hotels Ltd by Dunearn Investments (Mauritius) Pte Ltd (”Acquirer”).
For further details please refer to the notice no 20080305-36 dated March 05, 2008.