HBG Hotels Limited (formerly known as Phoenix Township Limited) convened a Board of Directors meeting on May 8, 2026, at which several significant corporate decisions were approved. The meeting, which commenced at 3:00 PM and concluded at 5:30 PM, covered matters ranging from dividend declarations and strategic hotel partnerships to warrant forfeiture and a new NSE listing proposal.

Interim Dividend Declared for FY 2025-26

The Board approved an interim dividend for the financial year ending March 31, 2026. The record date for determining member entitlement for the interim dividend payment has been fixed as Friday, May 15, 2026.

Convertible Warrant Forfeiture

In a development stemming from the Board meeting held on October 25, 2024, the Company had allotted 61,70,000 convertible warrants to 68 allottees on a preferential basis at an issue price of ₹143 per warrant. An amount aggregating to ₹22,05,77,500, representing 25% of the issue price, was received as the initial subscription amount at the time of allotment.

As per the terms of issue and in accordance with Regulation 169(3) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, warrant holders were required to exercise the conversion option within 18 months from the date of allotment, i.e., on or before April 2026. Certain allottees failed to exercise this option for 4,45,000 outstanding warrants within the stipulated period. The Board approved the forfeiture of these warrants, and the amounts received towards them stand forfeited in accordance with applicable regulatory provisions. The details of the allottees with forfeited warrants are as follows:

Strategic Hotel Partnerships

The Board approved two significant hotel management and development agreements, marking a notable expansion of the Company's hospitality portfolio.

Palolem Resort – Taj Group Agreement: The Board noted that Palolem Resorts LLP, the Subsidiary LLP of the Company, has executed a Memorandum of Agreement (MOA) with Rajscape Hotels Private Limited (Tree of Life) Taj Group of Hotels for the management, operation, and branding of the resort property at Phoenix Castle House Resort, Patnem Palolem Road, Palolem – 403702, Goa. Key terms of this agreement include:

• Exclusive rights for the management company to manage and operate the hotel in accordance with its brand standards and operating policies
• The owner retains ownership of the property while the management company controls day-to-day operations, staffing, marketing, pricing, and distribution
• The agreement is for a long-term tenure with a defined lock-in period, subject to termination in accordance with agreed terms
• This is not a Related Party Transaction

Marriott Hotel – Kerala Project: The Board approved HBG Hotels Limited entering into a suite of Hotel Agreements with Marriott Hotels India Private Limited, Starwood Hotels & Resorts Worldwide, LLC, Global Hospitality Licensing S.à r.l., and other affiliates of Marriott Hotels India Private Limited. These agreements relate to a hotel proposed to be constructed at Taluk – Neyyattinkara, Village – Kulathoor, District – Thiruvananthapuram, Kerala.

This transaction has also been confirmed as not a Related Party Transaction.

Additional Board Approvals

Beyond the dividend and hotel agreements, the Board approved several other notable matters:

• NSE Listing: The Board discussed and approved a proposal for listing on the National Stock Exchange of India Limited, subject to approval from the National Stock Exchange of India Limited.
• Branded Residences Feasibility Study: The Board approved the appointment of CBRE South Asia Pvt. Ltd. – Consulting & Valuation to undertake a feasibility study for a proposed Branded Residences project at the Bambolim, Goa Velha property situated in Goa.

Source: None/Company/INE977M01024/6462821a-7ee7-48f8-986b-f84e5d63e538.pdf

HBG Hotels Limited has announced a board meeting to consider interim dividend distribution for the current financial year. The company, formerly known as Phoenix Township Limited, issued the formal intimation to stock exchanges as part of its regulatory compliance obligations.

Board Meeting Details

The meeting of the Board of Directors has been scheduled for Friday, May 8, 2026. The primary agenda involves consideration and approval of interim dividend on equity shares for the Financial Year 2025-26.

Shareholder Information

The company has established May 15, 2026, as the record date for determining equity shareholders' entitlement to the proposed dividend. This date will be crucial for investors seeking to qualify for the dividend distribution, if approved by the board.

Trading Window Restrictions

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Insider Trading Prohibition Code, the trading window will remain closed for all designated persons. This restriction applies to dealing in securities of HBG Hotels Limited during the specified period.

Regulatory Compliance

The intimation was issued pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Mr. Samit Prafulla Hede, Managing Director (DIN: 01411689), ensuring proper authorization and compliance with corporate governance norms.

The company operates multiple hospitality properties including Park Inn by Radisson in Goa and Phoenix Island Resort in Kerala, maintaining its presence in the hospitality sector across key tourist destinations in India.