Business
Announcement of Special Divid
Announcement of Special Divid.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n RNS Number : 9874Y India Hospitality Corp. 06 January 2011 \n \n\nIndia Hospitality Corp.\n \n6 January 2011 \n \nAnnouncement of Special Dividend\n \nIndia Hospitality Corp. (AIM: IHC) (the \"Company\" or \"IHC\") is pleased to announce a special interim dividend of US$0.42 per share. The dividend will be paid on or around 17 January 2011, the shares will be marked ex-dividend on 12 January 2011 and the record date will be 14 January 2011.\n \nThe Board of Directors (excluding Ravi Deol, Chief Executive Officer and Sandeep Vyas, Chief Operating Officer) has also agreed to remove all restrictions in relation to the 1,873,000 and the 936,500 restricted ordinary shares previously issued to Messrs Deol and Vyas, respectively. These restrictions are contained in share grant agreements and lock up agreements originally entered into in June 2009 and subsequently amended in May 2010 (as announced on 6 May 2010). \n \nThe share restrictions included those relating to the transfer of shares as well as voting and dividend rights. Additionally, Messrs Deol and Vyas have agreed to remove the restriction on the declaration of dividends by the Company while a loan from the Punjab National Bank remains outstanding on the balance sheet of Sky Gourmet Private Catering Limited (\"Sky Gourmet\"). These shares will therefore also be entitled to receive the proposed special interim dividend referred to above. \n \nJason Ader, IHC Chairman, commented \"The Company's recent disposal of a majority stake in Sky Gourmet created an opportunity to reward shareholders for their continued support through a return of capital to shareholders by way of dividend.\"\n \nFor Further Information Contact:\n \nIndia Hospitality Corp.\nRajesh Mittal\n+91 22 4090 6177 \[email protected]\nwww.indiahospitalitycorp.com \n \nNominated Adviser: Grant Thornton Corporate Finance\nFiona Owen / Robert Beenstock\n+44 20 7383 5100\n \nBroker: Execution Noble & Company Ltd.\nJames Bromhead\n+44 20 7456 9191\n \nMedia Contact: Mutual Public Relations Ltd.\nHarsh Wardhan\n+91 11 4362 0700\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DIVEAXFSEALFEFF \n ","length":3802,"tagName":"div"}]