Dion Global Solutions to issue shares to Satyam Computer Services Ltd. for Rs.35 crore

The Board of Directors of Dion Global Solutions Ltd at its meeting held on February 09, 2012, has considered and approved the issue of Equity Shares on preferential basis to Satyam Computer Services Limited for an amount of Rs. 35 Crores subject to necessary regulatory and other approvals as required and execution of definitive documentation and fulfillment of customary closing conditions.

The Board approved issue of Equity shares on preferential basis to promoters [including any entity(ies)] forming part of Promoter Group Company and persons acting in concert, therewith] for an amount of Rs. 35 Crores.

The Board also proposed to convene an Extra-Ordinary General Meeting of the Company on March 10, 2012 to seek shareholders' approval for proposed allotment of equity shares to aforesaid entities.

The Dion Global Solutions stock closed the day at Rs.33.50, up by Rs.1.55 or 4.85%. The stock hit an intraday high of Rs.33.50 and low of Rs.33.50.

The total traded quantity was 25 compared to 2 week average of 3958.

Source : Equity Bulls

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