India Hospitality Corp.
("IHC" or the "Company")
EXERCISE OF THE SKYGOURMET CALL OPTION
Following the announcement on 19 December 2011 regarding the notification from gateGroup Investments Singapore Pte Ltd ("GG") of its intention to exercise its call option over the remaining shares held by the IHC group in Skygourmet Catering Private Limited ("Skygourmet"), IHC confirms that GG has now exercised its call option. In consideration, IHC will receive US$ 15,462,987.09 in cash. Consequently, IHC no longer has any interest in Skygourmet.
For further information contact:
India Hospitality Corp.
Rajesh Mittal
rmittal@ihcor.com
www.indiahospitalitycorp.com
Nominated Adviser: Grant Thornton Corporate Finance
Colin Aaronson, Salmaan Khawaja
+44 20 7383 5100
Broker: Execution Noble & Company Ltd
James Bromhead
+44 20 7456 9191
Media Contact: Mutual Public Relations Ltd.
Harsh Wardhan
+91 11 4362 0700
About India Hospitality Corp.
The Company is present in the hotel & restaurant segments, through its India-based subsidiary Wah Restaurants Private Limited (formerly Mars Restaurants Private Limited) which operates 58 patisseries under the "Birdy's" brand and a hotel in India.
This information is provided by RNS
The company news service from the London Stock Exchange
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This information is provided by RNS