India First Edition

Thomas Cook (India) Announces Rights Issue

Mumbai, August 27, 2008: Thomas Cook (India) Limited (TCIL), a leading travel and financial services provider in the country, announced their Rights Issue today. The Board of Directors approved in principle the company’s Rights Issue amounting to Rs. 200 crore. The proceeds of the Rights Issue would be used for Redemption of the Preference Shares of Rs. 10.5 crores and redemption premium of Rs. 10.5 crores and the balance funds would be utilized for working capital.
Commenting on the Rights Issue, Mr. Madhavan Menon, Managing Director Thomas Cook (India) Ltd said, “The rights issue will help us restructure our capital structure to prepare us for the next stage of growth.”
The ratio and the price of the issue has not yet been decided, and will be intimated at a later date.