Pyramid Saimira clarifies on stake sale news

With reference to the news item appearing in a leading financial daily titled "Carlyle, Citi eye 15% in Pyramid Saimira", Pyramid Saimira Theatre Ltd has clarified that the Company is one of the bidders in the Australian venture, a final decision has not yet been taken and a strategic decision can be taken only on finalisation of terms and conditions and after deliberations by the Board of Directors.

The Management has been in discussions with various private equity participants for further augmenting the resources of the Company. The discussions are in the preliminary level and not in a stage where it can be considered by the Board of Directors.

The Company's managing Director Mr. P S Saminathan has declined to comment on these developments.

The stock closed the day at Rs.343.70, up by Rs.6.90 or 2.05%. The total traded quantity was 1066001 compared to 2 week average of 180352.

The stock hit an intraday high of Rs.379.90 and low of Rs.341.15.

Source : Equity Bulls

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