Stock Watch Courtesy Of DrStockPick.com - Proteonomix (PROT) and Sify Technologies (SIFY), Crown Equity Holdings (CRWE) and Jackson Hewitt (JTX).
Saturday, September 25th, 2010
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Sify Technologies Limited (Nasdaq:SIFY), a leader in Enterprise and Consumer Internet Services in India with global delivery capabilities, is proposing to issue equity shares up to an aggregate of approximately USD 86 million to a group of investors affiliated with Sify’s promoter group, including entities affiliated with Mr. Raju Vegesna, Chief Executive Officer and Managing Director and Mr. Ananda Raju Vegesna, Executive Director and brother of Raju Vegesna.
The share issuance is proposed to be an issuance of 125 million equity shares of Rs.10/- each, at a purchase price of Rs.32 per share, which includes a premium of Rs.22 per share, or USD 0.69 per shares, based on an exchange rate of $1USD to INR 46.22. The shares will be issued at a discount to the prevailing American Depositary Share market price, since the proposed allotment of shares is for unlisted Indian equity shares. The proposed shares will not be registered in the United States or traded on NASDAQ as American Depositary Shares.
The proposal for a preferential allotment of shares has been approved by the Board of Directors of Sify Technologies Limited at a Board meeting held on August 4, 2010 and subsequently recommended to the shareholders at the Board Meeting held on August 24, 2010 for their approval at the ensuing Annual General Meeting to be held on September 27, 2010. The proposed allotment of shares is subject to the approval of shareholders by a special resolution and relevant statutory and regulatory authorities, wherever applicable.
The proceeds from the proposed issuance will be utilised for working capital, ongoing capital expenditure and future expansion.
Sify is among the largest Managed Enterprise and Consumer Internet Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 600 cities and towns in India.

PROTEONOMIX, INC. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, reports further developments with its Joint Venture Company, XGEN Medical LLC (”XGen”) towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries.
XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
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Jackson Hewitt Tax Service Inc.(NYSE: JTX) reports that New York Stock Exchange Regulation, Inc. has accepted Jackson Hewitt’s plan for continued listing in connection with the New York Stock Exchange, Inc.’s (”NYSE”) minimum equity market capitalization listing standard. As a result, Jackson Hewitt’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to monitor progress against the plan, the rights of the NYSE to take an accelerated action under certain circumstances, and subject to Jackson Hewitt’s compliance with the NYSE’s other continued listing standards.
Jackson Hewitt had previously been notified by NYSE Regulation that it had fallen below the NYSE continued listing standard requiring a minimum equity market capitalization of not less than $50 million over a consecutive 30 trading-day period. With the acceptance of the plan, Jackson Hewitt has been granted 18 months in which to comply with the minimum equity market capitalization standard.
Separately, NYSE Regulation had previously notified Jackson Hewitt that it had also fallen below the NYSE’s continued listing standard requiring that the average closing price of Jackson Hewitt’s common stock be at least $1.00 per share over a consecutive 30 trading-day period. Jackson Hewitt has acknowledged receipt of this below compliance notification and informed NYSE Regulation that it intends to cure this deficiency.

Crown Equity Holdings Inc. (OTCBB:CRWE) announced recently that it has launched its crwenewswire.fr website to provide news in France’s native language. Crown Equity Holdings Inc. had previously launched its German website crwenewswire.de and is launching its Canadian website crwenewswire.cn shortly.
“The new website is one step in many towards the company goal of expanding its footprint internationally, ” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Our goal for 2010 is to have all CRWE’s clients’ press releases, articles and news content published in every major financial country’s native language, as well as within cities of every state of our country,” stated Mr. Bosket.
Crown Equity Holdings Inc. is a consulting organization which provides and assists small business owners with the knowledge required in taking their company public, and has re-focused its primary vision with its aligned group of independent website divisions to providing media advertising services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information, as well as search engine optimization for its clients.
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