Kamat Hotels to raise US$ 50 million through FCCB Issue

Kamat Hotels India Ltd has announced that the Board of Directors of the Company at its meeting held on October 26, 2006 has, pursuant to special resolution approved by the members at the last Annual General Meeting (AGM) of the Company held on September 23, 2006 approving FCCB issue upto USD 50/- Million, authorised Mr Vithal Venketesh Kamat, Executive Chairman and Managing Director, and Mr S S Thakur, Director of the Company to jointly and / or singly:

1. negotiate and appoint various entities / agencies including without limitation bookrunner(s), lead manager(s), registrar(s), trustee(s), paying and conversion agent(s), printer(s), banker(s), guarantor(s), depository(ies);. custodian(s), listing agent(s), auditor(s), process agent(s), advisor(s) including legal advisor(s), financial advisor(s), and / or any other agencies (Intermediaries), in connection with the offer, issue and allotment of FCCBs by the Company;

2. Execute / sign / deliver the Transactional Documents, issue receipts, certificates and undertakings in favour of any or all of the Intermediaries and execute / sign / deliver any other instruments / letters / undertakings / receipts / or instruments or writing in connection with the FCCB issue (whether pre or post the FCCB issue); and

3. Do all or any of the acts, deeds, matters or things as may be considered expedient, necessary and / or desirable in connection with the any of the above on behalf of the Company.

Source : Equity Bulls

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