INDIAN HOTELS CO.LTD. - 500850 - Board Meeting Outcome for Outcome Of Meeting Of The Board Of Directors Of The Company Pursuant To Regulation 30 Read With Schedule III Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015
Further to our letters dated October 19, 2023 and October 23, 2023 respectively, the Board of Directors of the Company at its meeting held earlier today, transacted the following business: 1. Financial Results 2. Acquisition of 2,59,000 equity shares of Piem Hotels Limited (Piem Hotels), a subsidiary of the Company, held by New Vernon Private Equity Limited (New Vernon) (representing 6.80% of the paid-up equity share capital of Piem Hotels), by way of a combination of share swap and cash 3. Acquisition of 10,718 equity shares of Piem Hotels held by Tata Investment Corporation Limited (TICL) (representing 0.28% of the paid-up equity share capital of Piem Hotels), by way of a share swap 4. Issuance of equity shares on a preferential basis to New Vernon and TICL, for consideration other than cash 5. Seeking approval of shareholders for issuance of equity shares on a preferential basis through Postal Ballot (e-voting only)27-10-2023