Exercise of the Skygourmet Call Option

RNS Number : 3734X

India Hospitality Corp.

14 February 2012

 



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

[e-mail]

www.indiahospitalitycorp.com

Nominated Adviser: Grant Thornton Corporate Finance

Colin Aaronson, Salmaan Khawaja

[phone]

Broker: Execution Noble & Company Ltd

James Bromhead

[phone]

Media Contact: Mutual Public Relations Ltd.

Harsh Wardhan

[phone]

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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