Suave Hotels Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 24, 2008, inter alia, have taken the following decisions:
1. To create, offer, issue and allot, in one or more tranches, in the course of international offerings in one or more foreign markets, in Global Depository Receipts or otherwise, equity shares and / or any securities convertible into equity shares at the option of the Company and / or holder of the securities representing either Equity shares or convertible securities representing either Equity shares or convertible into equity shares subscribed in foreign currency (ies) to foreign investors an aggregate number equity shares or such receipts or instruments equivalent to not more than USD 10 million, as decided by the Company / underwriters, such issue and allotment to be made at such time or times, in such tranche or tranches, at a price and in such manner as the Board may, in its discretion think fit.
2. To offer / issue and allot not more than 65,00,000 warrants, convertible, at the option of the warrant holders within an aggregate time period of 18 months from date of allotment of the warrants into 65,00,000 equity shares of Rs 10 each, at an exercise price of Rs 47.00 per equity share or at the price as determined in accordance with the relevant SEBI Guidelines, to the promoters and others.
1. To create, offer, issue and allot, in one or more tranches, in the course of international offerings in one or more foreign markets, in Global Depository Receipts or otherwise, equity shares and / or any securities convertible into equity shares at the option of the Company and / or holder of the securities representing either Equity shares or convertible securities representing either Equity shares or convertible into equity shares subscribed in foreign currency (ies) to foreign investors an aggregate number equity shares or such receipts or instruments equivalent to not more than USD 10 million, as decided by the Company / underwriters, such issue and allotment to be made at such time or times, in such tranche or tranches, at a price and in such manner as the Board may, in its discretion think fit.
2. To offer / issue and allot not more than 65,00,000 warrants, convertible, at the option of the warrant holders within an aggregate time period of 18 months from date of allotment of the warrants into 65,00,000 equity shares of Rs 10 each, at an exercise price of Rs 47.00 per equity share or at the price as determined in accordance with the relevant SEBI Guidelines, to the promoters and others.
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