Aitken Spence Hotel Holdings invests Rs500mn in Golden Sun Resorts

Mar 11, 2016 (LBO) – Aitken Spence Hotel Holdings has decided to accept 50 million shares of its fully owned subsidiary Golden Sun Resorts private limited in lieu of certain funds advanced by the Company.

Aitken Spence hotel Holdings in a stock exchange filing said it has from time to time advanced funds to the total of 500 million rupees to Golden Sun Resorts for refurbishment and upgrading work carried out by the subsidiary.

The subsidiary has thereafter decided to issue shares to the Company as a replacement for the funds advanced by the Company, Aitken Spence hotel Holdings said.