Hotel Leelaventure to issue equity sharesOn preferential allotment basisThe board of Hotel Leelaventure in its meeting on 20 September 2012 has approved the preferential allotment of equity shares to promoter group entity. The shareholders of the company at the Annual General Meeting held earlier on the day have approved the allotment of equity shares of upto Rs 100 crore to Leela Lace Software Solutions, a promoter group entity, on preferential allotment basis at a price to be determined in terms of SEBI ICDR Regulations on the relevant date, i.e. 21 August 2012 being the 30 days prior to date of the Annual General Meeting.In terms of the SEBI ICDR Regulations, the applicable price per share is Rs 32.44. Accordingly, the said promoter group entity is entitled to receive 3,08,26,140 equity shares of Rs 2 each at a premium of Rs 30.44 per share.The board has authorised the finance committee of board of directors to allot the required equity shares on receipt of requisite in-principle approvals from the stock exchanges.The board has approved the appointment of Anil Kumar Sharma as additional director in place of Pawan Kumar Nagpal.Further, C K Kutty and R Venkatachalam, independent directors, retired by rotation at the 31st Annual General Meeting of the company held earlier on the day. As they had offered not to seek re-election, they have ceased to be directors of the company with effect from 20 September 2012.