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Sify Technologies Limited Message Board

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  • magalmaniac magalmaniac May 3, 2011 8:33 PM Flag

    125mil shares to be dumped on the market

    The management says that they dont plan to make these shares ADR "yet". Read the agrrement between CEO venture Capital and SIFY.
    There was 58 Million ADRs out of which about 27 Million was owned by the CEO. (That is how he became the owner of the company).
    Now there is no restriction to Sell those shares. So he could have or he can Sell those shares at say even $6 * 20 Million = $120 Million.
    He gave the company $80 Million and still made a handsome profit of $40 Million.
    Of by the way if you thought the company has changed hands he is holding 125 Million shares which puts him in control of the company. Now he can do this rabbit trick anytime he wants because the Board of directors will approve all his ways.

    This trick has made him a Billionaire (Forbes are you hearing) within 6 months.

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