Tropical Paradise Ltd Raises Rs 328 M To Finance The Purchase Of The Link Hotel
Tropical Paradise Ltd the owner of Le Labordonnais and Le Suffren has announced a fund raising of Rs 328 million for the finance of the purchase of the hotel The Link located at Ébene.
At a special meeting of the company held yesterday, the shareholders have given their agreement for an issue of shares for cash (Rights Issue), or 52.5 million “regular” shares valued at Rs 6.25 each.
The existing shares having subscription rights will be listed on the Development & Enterprise Market (DEM) of the Stock Exchange of Mauritius until October 17. The quotation ex-rights will begin the following day. The shareholders wishing to subscribe to the new issue of shares will have to exercise their rights at the latest the November 25, 2011. The quotations of the new shares will be issued on the 15 December.
