Blue Coast to consider conversion of preference shares into equity shares

Blue Coast Hotels & Resorts Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 11, 2008, inter alia, to consider conversion of 40,00,000 1% Redeemable Cumulative Preference Shares of Rs 100/- each aggregating to Rs 40.00 crores into Equity Shares of Rs 10/- each pursuant to the specific directions of Corporate Debt Restructuring Empowered Group (CDR - EG) in terms of the Debt Restructuring Package approved for the Company.

Source : Equity Bulls

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