The proposed ratio for exchange is two shares of the company for every one share of Palm Garden. Accordingly, 14.181,699 million shares of Riverina Hotels PLC will be converted to shares of Palm Garden Hotels PLC. PALM currently has 7,200,000 shares in issue and at the conclusion of the amalgamation, its total issues shares will rise to an amount, not exceeding 14,292,850 shares.
Once amalgamated, the continuing company will be Palm Garden Hotels PLC and the new hotel will be build under a wholly owned subsidiary of PALM. Both Riverina and PALM comes under the LOLC Liesure, which is a subsidiary of LOLC Group.