Kamat Hotels Updates on details of FCCB Issue

With reference to the earlier announcement dated March 14, 2007 regarding the public Issue of US$ 18 Million 5.5% Foreign Currency Convertible Bonds of the Company has been fully subscribed, Kamat Hotels India Ltd has announced about the following information on subscription.

Minimum price for Conversion - Rs 225/- Per Equity Share

Names of the Subscribers - Clearwater Capital Partners

FCCBs Size - US$ 18 Million

Maturity period of Bonds - 5 Years and one day

Deployment of proceeds of FCCBs - For financing the expansion program undertaken by the Company as approved in the last AGM by the members while passing the special resolution for FCCBs.

Source : Equity Bulls

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