Asian Hotels - Outcome Of Board Meeting

Asian Hotels Ltd has informed that the Board of Directors of the Company at its meeting held on May 14, 2007, inter alia, has approved the following:1. Approved the revised draft Scheme of Arrangement and De-merger (the revised draft Scheme) of the Company resulting in its trifurcation into three undertakings on the lines of the earlier draft scheme approved by the Board in its meeting held on April 28, 2007:2. The Board, in supersession of its earlier decision to convene an Extra Ordinary General Meeting of the Company on May 28, 2007, rescheduled the said meeting on June 25, 2007 for approving an amendment to the authorised share capital of the Company for permitting the issue of Preference Shares in the Company and consequential changes in Clause V of the Memorandum of Association and the Articles of Association; and for issuance of Redeemable Non-convertible Preference Shares of Rs 10/- each at a premium of Rs 80/- per share for an aggregating value of upto Rs 180 crores on preferential allotment basis.