Business
Application for admission
Application for admission.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n India Hospitality Corp.\n11 October 2007\n\n\nFor Immediate Release 11 October 2007\n\n\n\n INDIA HOSPITALITY CORP.\n\n\n Application for admission of shares and warrants to the CREST system\n\n\nNew York, NY. - October 11, 2007 - India Hospitality Corp. (LSE: IHC, 'IHC' or \n'India Hospitality'), today announced that it has applied for admission of\nde-materialized depositary interests representing its shares and warrants to the\nCREST system. The CREST settlement system allows securities to be transferred\nfrom one CREST account to another without the need to use share certificates,\nwarrants or written instruments of transfer. IHC believes that admission to the\nCREST system will facilitate settlement of its shares and warrants in a more\ntimely and efficient manner and benefit its shareholders.\n\n\nSecurities issued by non-U.K. companies, such as IHC, cannot be held or\ntransferred in the CREST system. However, to enable investors to settle such\nsecurities through the CREST system, a depositary or custodian can hold the\nrelevant securities and issue de-materialized depositary interests representing\nthe underlying securities, which are held in trust for the holders of the\ndepositary interests. It will be possible for CREST members to hold and transfer\ninterests in shares or warrants within CREST pursuant to a depositary interest\narrangement to be established by IHC with Capita IRG Trustees Limited (the\n'Depositary'). The shares and warrants will not themselves be admitted to CREST.\nInstead, the Depositary will issue depositary interests in respect of the\nunderlying shares and warrants ('Depositary Interests').\n\n\nThe Depositary Interests will be independent securities constituted under\nEnglish law and may be held and transferred through the CREST system. Depositary\nInterests will have the same ISIN as the underlying shares and warrants and will\nnot require a separate listing on AIM. The Depositary Interests will be created\nand issued pursuant to a Deed Poll entered into by the Depositary, which will\ngovern the relationship between the Depositary and the holders of the Depositary\nInterests.\n\n\nApplication has been made for the Depositary Interests in respect of the\nunderlying shares and warrants to be admitted to CREST commencing on October 29,\n2007. If CREST members wish to trade the Depositary Intere...