Sylph Technologies approves preferential issue, new business foray

Sylph Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on July 31, 2010, has approved the issue of preferential issue to non promoters up to a maximum limits of 10,00,000 warrants.

The Board has approved the issue of preferential warrants to employees up to maximum limits of 10,00,000 warrants under employee's stock option scheme.

The Board has decided to take marketing rights of the 30 year old news paper for all India. The details of the agreements will be worked out in next 15 days.

The Board has approved the strategic alliance and investments in the fields of, Education and e-learnings, LED and other eco friendly lighting technologies, International trading and Publishing and news paper.

The Board has decided to hold its next AGM in the second week of September 2010.

The stock was trading at Rs.7.96, up by Rs.0.37 or 4.87%. The stock hit an intraday high of Rs.7.96 and low of Rs.7.75.

The total traded quantity was 2500 compared to 2 week average of 1078.

Source : Equity Bulls

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