GL Hotels - Outcome of Board Meeting

GL Hotels Ltd has informed that the Board of Directors of the Company at its meeting held on May 11, 2007, has approved the following business:. Committee as required under SEBI guidelines for administration and superintendence of the Employee Stock Option Scheme (ESOS).. The Board has approved GL Hotels Employee Stock Option Scheme (ESOS) 2007 subject to approval of the Shareholders of the Company.. The Board has approved the revised remuneration to be payable Mr. Ravi Ghai, Chairman and Managing Director of the Company subject to approval of the shareholders of the Company. The Board has appointed Mr. Gaurav Ghai as Joint Managing Director of the Company with effect from May 11, 2007 for a term of five years at the remuneration subject to approval of the shareholders of the Company.