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Journalism of Courage
EIH Associated Hotels today said its board of directors have approved issue of shares to its current shareholders on a rights basis.
Rights issue committee of the board of directors of the company,at its meeting held on August 31,2012 has approved issue of 1,08,81,481 shares on a rights basis to its existing shareholders aggregating to approximately Rs 108.81 crore,EIH Associated Hotels said in a filing to BSE.
Rights entitlements will be 5 equity shares of Rs 10 each for every 9 equity shares of Rs 10 each held by the shareholders as on the record date,it added.
The shares will be issued at Rs 100 per share with a premium of Rs 90 per share,EIH Associated Hotels said.
The issue will open on September 26,2012 and will close on October 12,2012,it added.
Shares of EIH Associated Hotels Ltd today closed at Rs 155 per scrip on BSE,up 3.02 per cent from its previous close.
