EIH Associated Hotels fixes 5:9 rights issue price at Rs.100

The Rights Issue Committee of the Board of Directors of EIH Associated Hotels Ltd, at its Meeting held on August 31, 2012 has approved the terms of the proposed Rights Issue of the Company.

The Company proposes to issue 1,08,81,481 Equity Shares on a rights basis to its existing equity shareholders aggregating to approximately Rs. 1088.15 million. The Rights Entitlements is fixed at 5 Equity Shares of Rs. 10 each for every 9 Equity Shares of Rs. 10 each held by the shareholders as on the Record Date.

The Issue price per Equity Share is Rs. 100 including a premium of Rs. 90 per Equity Share (Rs. 10 per share at a premium of Rs. 90 per share)

The Total number of Equity Shares outstanding prior to the Issue is 19,586,666 and the total number of Equity Shares outstanding after the Issue is 30,468,147.

The Issue opens on September 26, 2012 and closes on October 12, 2012.

The EIH Associated Hotels Ltd stock closed the day at Rs.155, up by Rs.4.55 or 3.02%. The stock hit an intraday high of Rs.158 and low of Rs.151.50.

The total traded quantity was 1465 compared to 2 week average of 1252.

Source : Equity Bulls

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