Polo Hotels has informed that the Board Meeting for conversion of CCPS issued into equity is scheduled to be held on December 09, 2016. In the Board meeting held on November 14, 2016 at the Registered office of the Company, it was, decided and considered that the 88,88,889 Compulsorily Convertible Preference Shares of Rs 10 each were issued at a premium of Rs 1.25 per share to the promoters of the Company. The same shall be converted into Equity capital forming 88,88,889 Equity shares of Rs 10 each at par issued to the Promoters of the Company and to be added to the Equity Paid up share capital of the Company.
The above information is a part of company’s filings submitted to BSE.
