Accel Transmatic to spin-off training division, to raise funds

Accel Transmatic Ltd has announced that the Board of Directors of the Company at its meeting held on January 09, 2007, for the purpose of re-organisations, has decided to:

1. To spin off its Training Division (Accel IT Academy) as a Wholly Owned Subsidiary, by transfer of all the assets and liabilities of the Division from a date to be decided by the Board.

2. To raise additional funds for the Company by way of equity / debt for the expansion of Software / Animation division.

Source : Equity Bulls

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