Asian Hotels allots 1 Crore NCPS

Asian Hotels Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on February 27, 2008, had made an allotment of 1,00,00,000 (one crore) 1% Cumulative Redeemable Non-convertible Preference Shares of Rs 10/- each at a premium of Rs 80/- per preference share (NCPS) aggregating to Rs 90,00,00,000/- (Rupees Ninety Crores only) to Magus Estates and Hotels Ltd on a preferential allotment basis, in furtherance of the resolution approved by the shareholders in the Extra-ordinary General Meeting held June 25, 2007. These shares rank pari-passu with the existing NCPS issued by the Company during the financial year.

Source : Equity Bulls

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