The Board of Directors of Blue Coast Hotels Ltd at its meeting held on October 22, 2014, has allotted 38,83,495 Equity Shares of face value of Rs. 10/- each (at a premium of Rs. 93/- per Equity Share) pursuant to conversion of 40,00,000, 1% Cumulative Redeemable Preference Shares of Rs. 100/- each issued earlier to the persons belonging to the Promoter Category in terms of the CDR Scheme.