Suave Hotels allots 2000000 warrants at Rs 35

Suave Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on November 17, 2007, has allotted 20,00,000 warrants of Rs 10/ each at a premium of Rs 25/- per share to Promoters and others on a Preferential basis on February 27, 2007.

The Allottees had paid Rs 4/- per warrant being 10% of the issue price by way of application money. The balance money (Rs 31/-) being due on the warrants have been now brought in by the following allottees. The option for conversion being exercised, the Board has allotted shares as per the following schedule.

- Hot-N-Ice - 5,00,000 No of Shares allotted

- Alken Management & Financial Services Pvt Ltd - 5,00,000 No of Shares allotted.

Source : Equity Bulls

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