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Chalet Hotels
BSE: 542399NSE: CHALETISIN: INE427F01016

18th-Jan-2020 00:25Source: BSE

Chalet Hotels - Announcement under Regulation 30 (LODR)-Acquisition

We wish to inform you that the Board of Directors of the Company has at its meeting held today i.e. January 17, 2020 approved the execution of a Share Purchase Agreement for acquisition of 100% of the Equity Shares and Zero Coupon, Fully Compulsorily Convertible Debentures of Belaire Hotels Private Limited (BHPL) and Seapearl Hotels Private Limited (SHPL), subject to conditions precedent. The Company has post the Board Meeting executed a Share Purchase Agreement of even date for the acquisition.

The details as required under Regulation 30 of the SEBI LODR Regulations read with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015 are given in Annexure A to this letter.

You are requested to take the same on record.

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