Last checked at 29 Dec 2010 16:17
29 December 2010
India Hospitality Corp.
Directorate Change
India Hospitality Corp. (AIM: IHC) (the "Company" or "IHC") is pleased to announce the appointments of Mr. Raj Nandiwada and Mr. Daniel Silvers as non-executive directors to the board of the Company with immediate effect.
Mr. Nandiwada is currently Managing Partner of Dynamic Equity Partners, LP, an Indian focused diversified equity fund where he is responsible for portfolio management and business development. Mr. Nandiwada is also the founder of Global Infozone Inc., a company which provides Quantitative Equity Consulting Services. Prior to this, Mr. Nandiwada was a Portfolio Engineer/Trader at Jacobs Levy Equity Management and also worked at AT&T. Mr. Nandiwada, obtained an MBA degree in Finance from the Stern School of Business at the New York University. He also holds a Master's degree in Systems Science from the Louisiana State University, Baton Rouge and a Bachelor of Science in Mechanical Engineering from National Institute of Technology, Nagpur.
Ravi Deol, Chief Executive Officer of IHC said: "We are pleased to have Raj join us as we continue to seek new opportunities within India. His skill set is a valuable addition to our Board."
Mr. Silvers is currently the President and a Director of Reunion Hospitality Trust, Inc., the President of Hayground Cove Capital Partners LLC, and a director of Universal Health Services, Inc. (NYSE:UHS). Until November 2010, Mr. Silvers was the President of Western Liberty Bancorp (Nasdaq:WLBC). He was previously a Vice President at Fortress Investment Group LLC focusing on gaming and real estate investments and, prior to that, was a senior member of the real estate, gaming and lodging investment banking practice at Bear, Stearns & Co. Inc. He earned a B.S. in Economics and an M.B.A. in Finance from The Wharton School of Business at the University of Pennsylvania.
Ravi Deol, Chief Executive Office of IHC said: "We are delighted to welcome Daniel Silvers to the Board. His varied experience in both finance and business will enable him to make a valuable contribution the board. We look forward to working with him."
For Further Information Contact:
India Hospitality Corp.
Rajesh Mittal
+91 22 4090 6177
rmittal@ihcor.com
www.indiahospitalitycorp.com
Nominated Adviser: Grant Thornton Corporate Finance
Fiona Owen / Robert Beenstock
+44 20 7383 5100
Broker: Execution Noble & Company Ltd.
James Bromhead
+44 20 7456 9191
Media Contact: Mutual Public Relations Ltd.
Harsh Wardhan
+91 11 4362 0700
Further information about Mr. Rajagopal Nandiwada (aged 46)
Current Directorships | Past Directorships (within the last five years) |
Dynamic Equity Partners | None |
Global Infozone Inc. |
|
Mr Nandiwada hold 106,250 ordinary shares in the Company representing 0.3% of the total issued share capital of the Company.
Further information about Mr. Daniel Braun Silvers (aged 34)
Current Directorships and Partnerships | Past Directorships and Partnerships (within the last five years) |
Universal Health Services, Inc. | Reunion Hospitality Corp. |
Reunion Hospitality Trust, Inc. |
|
Park Hill Tenants Corp. |
|
Hayground Cove Capital Partners LLP |
|
The Company confirms there is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.