Board of Fomento Resorts & Hotels allots preference shares

At meeting held on 10 January 2015

Fomento Resorts & Hotels announced that the Board of Directors of the Company at its meeting held on 10 January 2015 have allotted 70,00,000 7.5% Cumulative, Non-convertible, Redeemable Preference shares of Rs. 100 each aggregating to Rs. 70 crore to Prime Mineral Exports (Promoter Group). On the aforesaid Preference shares, Rs. 50/- is paid on application and the balance Rs. 50/- per share is payable in two calls of Rs. 25/- each as and when required by the Board of Directors of the Company. These shares will not be listed on any stock exchange.

Powered by Capital Market - Live News