Unique hotel will sell the land

The board of directors of Unique Hotels and Resorts Limited, which is listed on the capital market, has decided to sell the land. The company’s affiliate Unique will sell the land to Meghnaghat Power.

According to company sources, the listed company will sell and transfer 1,031.61 decimal land at Meghnaghat in Sonargaon, Narayanganj at a cost of Tk 94.48 crore. In this case, the price of each decimal land will be 9 lakh 15 thousand rupees. Unique Meghnaghat Power will issue 9 crore 44 lakh 83 thousand 815 fully convertible non-convertible preference shares in favor of Unique Hotels and Resorts against this land. This share will be converted into ordinary shares when the power plant goes into production. The acquisition value of the land including development expenditure was 47 crore 33 lakh 67 thousand 691 taka.

Unique Hotel & Resort Limited is a gas and LNG based 584 MW power plant. Strategic Finance Limited and Global Energy Investment or GE Capital are already involved in financing the project.

Sunbd/NJ