Directorate Change
India Hospitality Corp.
26 September 2007
For Immediate Release 26 September 2007
INDIA HOSPITALITY CORP.
India Hospitality Announces Appointment of Scott LaPorta as Director
New York, NY. - September 26, 2007 - India Hospitality Corp. (LSE: IHC, IHC or
India Hospitality), today announced the appointment of Mr. Scott A. LaPorta,
aged 45, to the board of directors to replace Christa Short who has resigned
from the board.
'We are pleased to welcome Scott to the board and the IHC team. Scott brings
with him a wealth of experience in the gaming, lodging, retail and airport
concession industries and we look forward to his future contributions to our
growth,' said Chairman of the Board, Jason Ader.
Mr. LaPorta is a managing director of Hayground Cove Asset Management. He is
also the Chief Executive Officer and serves on the board of directors of Global
Consumer Acquisition Corp., a blank check company sponsored by Hayground Cove
formed to acquire one or more businesses in the global consumer products and
services industry. Mr. LaPorta has a strong acquisition, turnaround, brand
repositioning and investment background. Prior to joining us and Hayground Cove,
he was an Executive Vice President of Tennenbaum Capital Partners, LLC from
April 2007 to July 2007 and, prior to that, President of Levi Strauss & Co.'s
brands (Dockers, Levi's, and Signature) in Mexico and Canada as well as Levi
Strauss Signature in the United States from October 2003 to March 2007. His
prior responsibilities at Levi Strauss included Senior Vice President of Sales,
Strategy and Finance for Levi Strauss North America where he was the lead
turn-around strategist from February 2002 to October 2003. Mr. LaPorta has prior
experience as the Chief Financial Officer for Park Place Entertainment
overseeing acquisitions, development, investor relations, corporate finance and
financial planning from 1998 to 2001 and, prior to that, as the Treasurer of
Hilton Hotels Corporation from 1996 to 1998. Before joining Hilton, Mr. LaPorta
held a series of financial positions at the Marriott companies progressing to
Treasurer of Host Marriott Corporation from 1993 to 1996. Mr. LaPorta earned a
Bachelor's degree in Accounting from the University of Virginia and a Master's
degree in Business Administration from Vanderbilt University. Prior to attending
business school he was a senior accountant at Price Waterhouse.
Mr. LaPorta had not been a director of any other company within the last five
years. There are no further disclosures required to be made in relation to Mr.
LaPorta pursuant to paragraph (g) of Schedule Two to the AIM Rules.
About India Hospitality Corp.
IHC was created as a blank-check company to acquire Indian businesses or assets
in the hospitality, leisure, tourism, travel and related industries, including
but not limited to hotels, resorts, timeshares, serviced apartments and
restaurants.
In August 2006, IHC raised US $103 million in an IPO and private placement and
is listed on AIM, a market operated by London Stock Exchange plc, under the
ticker IHC. The Company was sponsored and advised by Hayground Cove Asset
Management LLC, a New York-based investment management firm with approximately
US $1.9 billion in assets under management.
About Mars and SkyGourmet
Since its incorporation in 2000, Mars has diversified into bakery outlets and
operating and managing food courts and hotels. SkyGourmet was incorporated in
2002 and is headquartered in Mumbai. SkyGourmet currently provides in-flight
catering services to a number of domestic and international airlines, including
Jet Airways, Kingfisher Airlines, Air India Express, Indian Airlines, Malaysian
Airlines and Air France. It has operations in Mumbai, Bangalore, New Delhi and
Pune. For the nine months ended December 31, 2006, the combined entities had
audited revenues of approximately US $18.9 million and 1,700 employees.
For Further Information Contact:
Investor Relations Contact: ICR Inc.
William Schmitt
203-682-8200
Media Contact: Buchanan Communications
Richard Darby, Isabel Podda
+44 207 466 5000
Nominated Adviser and Broker: Deutsche Bank
Mumtaz Naseem
+44 20 7545 8000
Deutsche Bank AG is authorised under German Banking Law (competent authority:
BaFin - Federal Financial Supervising Authority) and with respect to UK
commodity derivatives business by the Financial Services Authority; regulated by
the Financial Services Authority for the conduct of UK business. Deutsche Bank
is acting exclusively for IHC. and no-one else in connection with the
acquisition and related transactions and other matters referred to in this
announcement and will not be responsible to anyone other than IHC. for providing
the protections afforded to clients of Deutsche Bank AG nor for providing advice
in relation to the acquisitions and related transactions or any matter referred
to in this announcement.
Deutsche Bank is IHC's nominated adviser and broker for the purposes of the AIM
Rules for Companies. Its responsibilities as IHC's nominated adviser and broker
under the AIM Rules for Nominated Advisers are owed solely to London Stock
Exchange plc and not to IHC, any director of IHC or any other person.
No offer or invitation to purchase or subscribe for ordinary shares in or
warrants to purchase or subscribe for ordinary shares or warrants of IHC is
being made by this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
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