Business
Preliminary
Preliminary.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n India Hospitality Corp.\n23 February 2007\n\n\nFOR IMMEDIATE RELEASE 23 February 2007\n\n\n INDIA HOSPITALITY CORP\n\n India Hospitality Corp files consolidated financial statements for the period\n ending December 31, 2006.\n\nNew York, NY. - February 23, 2007 - India Hospitality Corp. (LSE: IHC), today\nannounced that it has filed consolidated financial statements for the period May\n12, 2006 (inception) to December 31, 2006. For the period from May 12, 2006 to\nDecember 31, 2006, the company generated an operating loss of $844,525 and\npre-tax profit of $1,266,390 or $0.08 per share. As of December 31, 2006, the\ncompany had $99.6 million in cash.\n\nAbout India Hospitality Corp.\n\nIndia Hospitality Corp. is a Special Purpose Acquisition Corporation (SPAC)\ncreated to initially pursue partnerships only of an Indian business, businesses\nor assets focused on the hospitality, leisure, tourism, travel and related\nindustries, including but not limited to hotels, resorts, timeshares, serviced\napartments and restaurants. While the company's potential partnerships could\ncome from any of these sectors, the primary focus will be on the hospitality\nindustry. It expects to pursue these initiatives initially only in India.\n\nIn August of 2006, the company raised $100 million in an IPO and is listed on\nthe Alternative Investment Market, 'AIM', a market operated by the London Stock\nExchange, under the ticker IHC. The company is sponsored by Hayground Cove Asset\nManagement LLC, a New York-based investment management firm with approximately\n$2.0 billion under management. Jason Ader, the company's Chief Executive\nOfficer and Chairman of the Board is the Chief Executive Officer of Hayground\nCove Asset Management. Mr. Ader has a strong background in the leisure and\nhospitality industries. Prior to founding Hayground Cove, he was Senior Managing\nDirector at Bear Stearns & Co., Inc., supervising coverage of the lodging and\nhospitality industry and was a top ranked analyst by Institutional Investor\nMagazine's All-American Research Team for nine consecutive years.\n\nThis press release contains certain forward-looking statements. Statements\ncontaining expressions such as 'may,' 'will,' 'project,' 'might,' 'expect,'\n'believe,' 'anticipate,' 'intend,' 'could,' 'would,' 'estimate,' 'potential,'\n'continue,' or 'pursue,' or the...