Business
Director Shareholding
Director Shareholding.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n RNS Number : 5470U India Hospitality Corp. 26 June 2009 \n \nIndia Hospitality Corp.\n\n26 June 2009\n\nDirector Shareholding\n\nIndia Hospitality Corp. ('IHC' or the 'Company') has today agreed to issue 1,873,000 ordinary shares of USD0.001 each ('Ordinary Shares') to Ravi Deol (CEO of IHC) and 936,500 Ordinary Shares to Sandeep Vyas (COO of IHC) at par value (the 'Initial Share Issue') pursuant to share grant agreements entered into with Mr Deol and Mr Vyas.\n\nAdditionally, the Company has agreed to issue to Mr Deol and Mr Vyas up to a further 1,873,000 and 936,500 Ordinary Shares respectively at par value, based on meeting certain share price targets below (the 'Conditional Share Issue'):\n\n\n\n\n\n\n\n\nNumber of shares to be issued\n\n\n\n\nCondition (the 'Conditions')\n\n\nRavi Deol\n\n\nSandeep Vyas\n\n\n\n\nthat the Ordinary Shares trade at no lower than $5.00/share for twenty (20) consecutive trading days\n\n\n936,500\n\n\n468,250\n\n\n\n\nthat the Ordinary Shares trade at no lower than $6.50/share for twenty (20) consecutive trading days\n\n\n468,250\n\n\n234,125\n\n\n\n\nthat the Ordinary Shares trade at no lower than $8.50/share for twenty (20) consecutive trading days\n\n\n468,250\n\n\n234,125\n\n\n\n\n\nSubject to certain limited exceptions, Mr Deol and Mr Vyas have agreed to the following restrictions on the transfer of these shares:\n\n\n\nthe shares issued pursuant to the Initial Share Issue may not be transferred within six months from issue; and\n\n\nany shares issued as a consequence of the satisfaction of a Condition may not be transferred within three months from the relevant Condition having been satisfied.\n\n\n\nFollowing the Initial Share Issue, Mr Deol will be interested in 1,873,000 Ordinary Shares in the Company and Mr Vyas will be interested in 936,500 Ordinary Shares in the Company, representing an interest of 6.06% and 3.03%, respectively in the total voting rights of the Company. \n\nShould all of the Conditions be satisfied (and all of the Ordinary Shares duly issued), Mr Deol and Mr Vyas would be interested in 11.10% and 5.61% of the total voting rights of the Company respectively, assuming no additional ordinary shares are issued by the Company or acquired by Mr Deol or Mr Vyas in the inte...