Hotel Rugby Ltd has announced that the Board of Directors of the Company at its meeting held on June 02, 2007 has decided to disposal of Company's building and investment in the Subsidiary and for that purpose the Board has authorised Mr. Mahendra Thacker and or Ms. Darshana Thacker to find out a suitable party and fix with them the terms and conditions and also authorised to take all necessary steps for that purpose including signing of necessary papers / documents in connection therewith.