Accel Transmatic to set up Motion Capture Studio at Trivandrum

Accel Transmatic Ltd has announced that the Board of Directors of the Company at its meeting held on May 29, 2007, have taken the following decisions:

1. The Company is setting up a Motion Capture Studio (MOCAP) for its Animation Division at Animation SEZ, a part of KINFRA TV and Film Park, Trivandrum set up by KINFRA (Kerala Industrial Infrastructure Development Corporation). The facility shall be set up at a capital outlay of Rs 4.5 crores.

2. The Company has hived off the training division to its Wholly Owned Subsidiary, M/s. Accel Academy Ltd (AAL).

3. The Board has in principal agreed to mobilize investments in AAL from investors as direct investment into AAL through dilution of equity, in order to fund its expansion program.

The stock was trading at Rs.24.80, up by Rs.0.10 or 0.40%. The stock hit an intraday high of Rs.25.20 and low of Rs.24.15. The total traded quantity was 3472 compared to 2 week average of 9440.

Source : Equity Bulls

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