| Kamat Hotels (I) Limited has informed the Exchange that "Pursuant to the authority conferred by the Board of Directors of the Company, the Securities Issue Committee, at its meeting held on May 15, 2010, agreed to the conversion price of Rs. 135/- per share for mandatory conversion of 5.50% Foreign Currency Convertible Bonds within specified time frame into equity shares which is higher than price as per the pricing norm provided in Press Note dated November 27, 2008, February 15, 2010 and March 15, 2010. The Committee has also decided to communicate the aforesaid conversion price to the Foreign Currency Bonder holder and their trustee, The Bank of New York". |
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