Suyog Telematics Limited on Tuesday, December 17, announced that a board meeting is scheduled for Saturday, December 21, to evaluate options for raising funds. The meeting will focus on the potential issuance of equity or other equity-linked securities, it said in a release.
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The company plans to explore various methods of raising funds, including private placements, preferential issues, or any other permissible modes, under applicable laws.
The board will also review ancillary actions, such as determining the issue price, subject to the necessary regulatory approvals and, if required, shareholder approval.
In line with these developments, Suyog Telematics has informed that the trading window for insiders, designated persons, and their immediate relatives has been closed from Tuesday, December 17, 2024. This will remain in effect until 48 hours after the announcement of the meeting’s outcome.
The board will also consider other business matters, subject to the chairman’s approval.
Shares of Suyog Telematics ended over 1% higher on Tuesday, December 17.
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(Edited by : Shoma Bhattacharjee)
