Howard Hotels Ltd has informed that the Board of Directors of the Company at its meeting held on August 30, 2008, inter alia, has resolved to create, offer, issue and allot 18,00,000 Warrants at a price of Rs 15/- per warrant carrying a right to subscribe to equal number of Equity Shares in the Company on conversion within a period of eighteen months from the date of allotment (herein after referred as Warrants) in cash aggregating to Rs 2,70,00,000/- which price is calculated in accordance with the Guidelines for preferential issue issued by SEBI under Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, with August 30, 2008 being the relevant date as the date 30 days prior to the date of General Meeting of the Company, where the proposed issue is to be considered.
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