Zylog Systems touches the roof on receiving approval for draft Scheme of Arrangement

16 Apr 2015

Zylog Systems is currently trading at its upper circuit limit of Rs. 5.77, up by 0.27 points or 4.91% from its previous closing of Rs. 5.50 on the BSE.

The scrip opened at Rs. 5.69 and has touched a high and low of Rs. 5.77 and Rs. 5.42 respectively. So far 25872 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 17.01 on 16-Apr-2014 and a 52 week low of Rs. 3.35 on 23-Mar-2015.

Last one week high and low of the scrip stood at Rs. 5.77 and Rs. 4.55 respectively. The current market cap of the company is Rs. 32.45 crore.

The promoters holding in the company stood at 2.81% while Institutions and Non-Institutions held 12.57% and 71.27% respectively.

Zylog Systems has received approved the draft Scheme of Arrangement U/s 391-394 of the Companies Act, 1956, proposal to be made with the Secured Creditors / Banks and Financial Institutions, subject to the approval of the Stock Exchanges, Honorable High Court, Madras and Offices of the Official Liquidator, Chennai.

The Board of Directors of the Company at its meeting held on April 15, 2015 has approved for the same.

Zylog Systems, established in 1996, is an ISO 9001 certified provider of Onshore, Offshore & Near shore technology solutions and services to enterprises & technology companies across the globe.


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