Key Developments: Sify Technologies Ltd (SIFY.O)

SIFY.O on Nasdaq

10 Jul 2014
Price Change (% chg)

$-0.07 (-3.37%)
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Latest Key Developments (Source: Significant Developments)

Sify Technologies Ltd initiates dividend on equity shares
Tuesday, 10 Jun 2014 10:05am EDT 

Sify Technologies Ltd:Announced that its first ever dividend payout to all holders of Equity and American Depository Shares of the company.Recommends a dividend of 10 pct on the paid up capital of the equity shares and ADR holders for the year 2013-14.Dividend will be paid to those shareholders whose names appear in the Register of Members of the company (for India) and Citibank Depository Register (for ADRs) on the Record Date, June 20.Payment will be disbursed on July 30.  Full Article

Bronstein, Gewirtz & Grossman, LLC Announces Investigation Of Sify Technologies Ltd
Monday, 10 Sep 2012 09:01am EDT 

Sify Technologies Ltd announced that Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Sify Technologies Limited., concerning potential violations of federal securities laws. On July 21, 2011, shares of Sify stock slumped 18%, after an inquiry from the Wall Street Journal discovered the Company used gaps in Nasdaq's reporting requirements to get around disclosing share count. Nasdaq updated Sify's American depositary shares of 53 million, with a market value of roughly $300 million to the real number of shares of 178 million. All of a sudden, Sify had a market cap of about $1 billion. Prior to this update, Sify last filed a complete set of financial statements for the fiscal year ended march 2010 with the U.S. Securities on November 30, 2010. At this point Sify's share count was 53 million. But the prior fall, Sify shareholders approved the issuance of an additional 125 million shares to an investor group affiliated with the Chief Executive and his brother; at a 70% discount to the market price. At the time, the CEO and his brother owned 53% of Sify stock.  Full Article

Sify Technologies Limited Concludes Sale of Entire Stake in MF Global Sify Securities India Pvt Ltd
Thursday, 2 Aug 2012 09:42am EDT 

Sify Technologies Limited announced the conclusion of the sale of their entire stake in MF Global Sify Securities India Pvt Ltd as reported earlier in March 2012. Necessary Regulatory and statutory ‘no objection approvals’ for change in control have been received. The aggregate amount received by Sify against the aforementioned stake and the rights therein is INR139 crores (INR1.39 billion) (USD 25 million) in cash.  Full Article

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