India Hospitality Corp.
09 January 2008
For Immediate Release 9 January 2008
India Hospitality Corp.
India Hospitality Corp. to Present at the Tenth Annual ICR XChange Conference
New York, NY - January 9, 2008 - India Hospitality Corp. (LSE: IHC, IHC or India
Hospitality), today announced that the Company will be presenting at the Tenth
Annual ICR XChange Conference on Thursday, January 17, 2008 at the St. Regis
Monarch Beach Resort & Spa in Dana Point, CA. The presentation will begin at 1:
50 PM Pacific Time.
Investors and interested parties may listen to the webcast of this presentation
by visiting the Company's website at www.indiahospitalitycorp.com under the
investor relations section at the appropriate time.
About India Hospitality Corp.
In August 2006, India Hospitality Corp. raised US $103 million in an IPO and
private placement and is listed on AIM, a market operated by London Stock
Exchange plc, under the ticker IHC. IHC was originally created as a blank check
company and was sponsored and advised by Hayground Cove Asset Management LLC, a
New York-based investment management firm.
In July 2007, IHC closed on the acquisition from Navis Capital Partners and its
Affiliates of India-based Mars Restaurants Private Limited ('Mars'), an emerging
hotel and restaurant company, and SkyGourmet Catering Private Limited
('SkyGourmet'), an airline catering company with 1,700 employees operating out
of four locations in India.
In December 2007, in order to fund strategic growth initiatives, Hayground Cove
and Navis Capital jointly invested US $28 million of additional capital in IHC,
bringing their total invested capital to US $56 million. Following such
reinvestment, Hayground Cove and Navis own approximately 52% of India
Hospitality.
IHC generated approximately US $30 million in unaudited consolidated revenues in
fiscal year ended March 31, 2007, an approximate 50% increase from 2006.
About Mars and SkyGourmet
Since its incorporation in 2000, Mars has diversified into bakery outlets and
operating and managing food courts and hotels. SkyGourmet was incorporated in
2002 and is headquartered in Mumbai. SkyGourmet currently provides in-flight
catering services to a number of domestic and international airlines, including
Jet Airways, Kingfisher Airlines, Air India Express, Indian Airlines, Malaysian
Airlines and Air France. It has operations in Mumbai, Bangalore, New Delhi and
Pune.
For further information, please contact:
Investor Relations Contact: ICR Inc.
William Schmitt
203-682-8200
Media Contact: Buchanan Communications
Richard Darby, Isabel Podda
+44 207 466 5000
Nominated Adviser and Broker: Deutsche Bank
Mumtaz Naseem
+44 20 7545 8000
Deutsche Bank is IHC's nominated adviser and broker for the purposes of the AIM
Rules for Companies. Its responsibilities as IHC's nominated adviser and broker
under the AIM Rules for Nominated Advisers are owed solely to London Stock
Exchange plc and not to IHC, any director of IHC or any other person.
No offer or invitation to purchase or subscribe for ordinary shares in or
warrants to purchase or subscribe for ordinary shares or warrants of IHC is
being made by this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
This information is provided by RNS
The company news service from the London Stock Exchange