Polo Hotels Ltd approves allotment of CCPS

The Board of Directors of Polo Hotels Ltd at its meeting held on November 14, 2016, have approved and taken on record allotment of 88,88,889 Compulsory Convertible Preference Shares (CCPS) of Rs. 10 each @ a premium of Rs. 1.25 per share amounting to Rs. 10,00,00,000/- (Rupees Ten Crores Only) to the promoters of the Company Mr. Abhey Ram Dahiya and Mr. Amardeep Singh Dahiya.

The consent of the Board of Directors of the Company be and is hereby accorded to issue and allot 88,88,889 (Eighty Eight Lacs Eighty Eight Thousand Eight Hundred and Eighty Nine Only) Equity Shares of Rs. 10/- each at premium of Rs. 1.25 per share to Mr. Abhey Ram Dahiya and Mr. Amardeep Singh Dahiya Promoters of the Company in tranches till March 31, 2017, schedule of which was tabled before the Board and signed by the Chairman for the purpose of Identification.

Shares of POLO HOTELS LTD. was last trading in BSE at Rs.9.25 as compared to the previous close of Rs. 9.26. The total number of shares traded during the day was 2595 in over 11 trades.

The stock hit an intraday high of Rs. 9.6 and intraday low of 9.25. The net turnover during the day was Rs. 24013.

Source : Equity Bulls

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