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Sify Technologies Ltd. Rights Offering Over-Subscribed

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CHENNAI, India, June 28, 2024 /PRNewswire/ — Sify Technologies Ltd. (Nasdaq: Sify) (the “Company”), a leading integrated information communications technology (or ICT) Solutions and Services provider in India, today announced that its recent rights offering was over-subscribed.

The subscription period for the equity share rights expired at 6:00 p.m. (Chennai, India time) on June 21, 2024. The subscription period for the American Depositary Share (“ADS”) rights expired at 2:15 p.m. New York Time on June 21, 2024. Subscription rights that were not exercised prior to the end of the subscription period have expired. Any excess subscription payments received which remain with the Company or Citibank, N.A., acting as ADS Rights Agent, will be returned to the applicable holders.

The Company expects to issue an aggregate of 190,268,698 equity shares and 59,730,265 ADSs (each representing one equity share) pursuant to the exercise of subscription rights during the rights offering, raising gross proceeds of approximately $30 million before any expenses of the rights offering. Following the issuance of the new equity shares and ADSs, the Company will have 433,331,423 equity shares outstanding, including equity shares represented by ADSs (and which includes the 13,262,908 ADSs to be issued as part of the over-subscription right). The net proceeds of the rights offering are expected to be used for expansion of the business for developing Network Centric Services, Data Center services, Digital Services and for general corporate purposes.

The 13,262,908 ADSs to be issued as part of the over-subscription right were allocated on a pro-rata basis among rights holders who exercised their over-subscription rights based on the number of additional equity shares or ADSs each rights holder subscribed for pursuant to its over-subscription right.

Delivery of the new equity shares subscribed for in the rights offering is expected to be made on or about July 5, 2024. Delivery of the new ADSs subscribed for in the rights offering is expected to be made on or about July 9, 2024.

Other Important Information

A prospectus relating to the rights offering was filed with the Securities and Exchange Commission on June 3, 2024 and is available on the website of the SEC at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the Company and its business. These forward-looking statements are often identified by the use of forward-looking terminology such as “expects”, “intends”, “will”, or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as expected, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/sify-technologies-ltd-rights-offering-over-subscribed-302185995.html

SOURCE Sify Technologies Ltd.

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WorldSkills Lyon 2024: Talented Winners, Long-lasting Legacy

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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.

From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.

Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.

The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!

What’s next?

The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.

Media Contacts: 
Alice Nahon
PR Officer
alice.nahon@publicis.com 

Anne-Laure TRONC
Press Relation Manager
media@worldskillslyon2024.com 

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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html

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LG NOVA EXPANDS EFFORTS TO DRIVE INNOVATION GROWTH THROUGH NEW PARTNER ALLIANCE PROGRAM

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New Program Connects LG, Strategic Partners and Startups to Ignite Collaboration and Development of Innovative Ideas for a Better Future

SANTA CLARA, Calif., Sept. 19, 2024 /PRNewswire/ — LG Electronics today announced the launch of the LG NOVA Partner Alliance Program – a platform that brings together corporate partners and startups for cross-industry collaborations, technology and business development, and commercial partnerships to catalyze the growth of innovations for the future.

Spearheaded by LG NOVA, LG Electronics’ North America Innovation Center, the Program extends the success of LG NOVA’s mission to co-create new ventures with startups to its corporate partners with the goal to encourage exponential growth of new innovations in the market by creating more pathways for innovative ideas to flourish at a greater rate.

Joining the Partner Alliance Program at launch are Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic and the West Virginia Department of Economic Development. These organizations have all signed on to work with LG NOVA and its extensive startup ecosystem to generate and explore new concepts; develop, test, and validate those concepts; and collaborate on innovative product solutions or even co-create new businesses. Additional partners will be added to the Partner Alliance Program in the coming months.

“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation, LG Electronics and head of LG NOVA.

Kevin Chong, LG NOVA’s head of corporate and business development, said, “This program is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”

In bringing on corporate partners to its Program, LG NOVA is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers. 

The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG NOVA’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.

LG NOVA and the newly announced partners in the Partner Alliance Program plan to share more about their goals and vision for this program at the 2024 LG NOVA InnoFest, Sept. 25-26, at the Palace of Fine Arts in San Francisco, Calif.

LG NOVA’s annual InnoFest conference unites business leaders, innovators and investors to collaborate on solutions for a better future, this year, under the theme of “Lighting the Halo of Innovation,” inspiring attendees to focus on impactful co-creation and bold ideas. For more information about this year’s event visit https://innofest.lgnova.com/

About LG NOVA
LG NOVA, the North America Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

Media Contact:

LG Electronics USA

Linda Quach
+1 408 903 3045
linda.quach@lge.com

Partners & Quotes

Fujitsu Research of America

“We are excited to join LG NOVA in the Partner Alliance Program to explore new collaboration opportunities with them. LG NOVA approach to innovation and the Partner Alliance Program is a meaningful way for organizations from across different market sectors to come together and innovate,” said Takuto Komatsuki, Senior Director at Fujitsu Research of America.

About Fujitsu Research of America

Fujitsu Research of America is focused on developing cutting-edge technologies to solve digital transformation (DX) challenges faced by its customers. Its vision is to build a sustainable world through innovation and trusted partnerships. At Fujitsu Research of America (FRA), we have a myriad of very talented people working in a variety of areas – AI with transparency and ethics, social digital twin, web 3.0 technologies, quantum algorithms, and much more.

About Hyundai CRADLE

Hyundai CRADLE for Human-centered Mobility Innovation

Hyundai CRADLE is Hyundai Motor’s corporate venturing and open innovation business, which partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies. CRADLE identifies newly established startups that focus, amongst others, on ‘Disruptive Innovations.’

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Mayo Clinic Innovation Exchange

“We look forward to collaborating with the LG NOVA team to share our expertise in healthcare innovation and to explore new opportunities with startups seeking to improve patient care and health outcomes.” said Jennie Kung, Vice Chair of the Mayo Clinic Innovation Exchange.

About The Mayo Clinic Innovation Exchange

The Mayo Clinic Innovation Exchange is a dynamic platform designed to accelerate healthcare innovation and foster collaboration among the global healthcare community. Leveraging Mayo Clinic’s world-class expertise and resources, the Innovation Exchange bridges the gap between emerging technologies and clinical practice, research, and education to bring breakthrough innovations to market, all for one shared mission—to benefit patients.

Niantic

“We see a great opportunity for entirely new spatial experiences leveraging AI and our 3D map
technology, tools and services to come to the forefront in the near future. We’re glad to see the
LG NOVA Partner Alliance program launch, as it has the potential to lead us to greater
collaboration across the growing ecosystem,” said Maryam Sabour, Director of Business
Development and Strategic Partnerships Lead at Niantic. 

About Niantic

Niantic’s global-scale augmented reality platform and digital map power spatial computing experiences in the real world. Incubated out of the Maps team at Google, Niantic first created Ingress and then Pokémon GO, a collaboration with The Pokémon Company, which has become a cultural phenomenon and hit game played by tens of millions of people each month. Niantic’s maps platform, which powers Pokémon GO, also supports the company’s other games and applications including Pikmin Bloom, Peridot, Monster Hunter Now and Niantic Scaniverse. Niantic’s mapping, AR and mixed reality platforms, tools and services are used by thousands of developers around the world. 

West Virginia Department of Economic Development

West Virginia’s Department of Economic Development is eager to collaborate with LG NOVA through the new Partner Alliance program,” said West Virginia Department of Economic Development Executive Director, Mike Graney. “We look forward to strengthening our relationship with LG and engaging with the businesses throughout West Virginia.”

About the West Virginia Department of Economic Development

There is no better place to build and grow a business in the Eastern United States than West Virginia. The West Virginia Department of Economic Development’s mission is to improve the quality of life for all West Virginians by strengthening our communities and expanding the state’s economy to create more and better jobs.

 

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SOURCE LG Electronics USA

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Behr Paint Company Hosts First Student Design Competition

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Design students encouraged to enter for a chance to win $3,000, plus $1,000 for their design school

SANTA ANA, Calif., Sept. 19, 2024 /PRNewswire/ — Today, Behr Paint Company announces its first-ever BEHR® Student Design Competition in partnership with MattoBoard, a 3D virtual sampling platform for designers. The competition is open starting today, September 19, through November 10, 2024, for full-time or part-time emerging professional design students.* 

Behr Paint invites design students to submit an original design plan for any commercial space such as hospitality, workplace, healthcare, multifamily and more. The design theme, “No Clear Boundaries,” draws inspiration from the BEHR 2025 Commercial Color Forecast, which celebrates the fluidity between designed environments that reflect the intersection of the past and future, digital and physical, and timeless and modern. Entrants must incorporate colors from the BEHR 2025 Commercial Color Forecast in their design along with BEHR’s 2025 Color of the Year, Rumors, a deep and timeless shade of ruby red. 

The competition was created to champion emerging designers by providing specialized resources and opportunities to showcase and celebrate their talents. “As a judge of the BEHR Student Design Competition, I am excited to see how each student embraces color and design,” said Erika Woelfel, Vice President of Color & Creative Services at Behr Paint Company. “At Behr, we are committed to supporting the careers of the next generation of designers, and I look forward to seeing the students’ creativity shine through.”  

The judging panel will also include Guy Adam Ailion, Architect and CEO / Co-Founder of MattoBoard; Kayla Kratz, Director of Color & Designer Segment at Behr Paint Company; and Amber Jones, Director of Architect & Designer Strategic Initiatives at Behr Paint Company.

The winner of the 2024 BEHR Student Design Competition will be awarded a $3,000 cash prize and $1,000 for their design school. The runner-up will receive a $1,500 cash prize, and the second runner-up will receive a $500 cash prize. All winners will also receive a 1-year MattoBoard Pro Subscription to continue using the platform for their design needs. Winners will be announced in December 2024 and will be featured on BEHR’s and MattoBoard’s social channels, blog, and email.

To learn more about the 2024 BEHR Student Design Competition and how to enter, visit www.behr.com/designcompetition.

*NO PURCHASE NECESSARY. PURCHASE WILL NOT IMPROVE OPPORTUNITY TO WIN.
INTERNET AND MATTOBOARD ACCOUNT REQUIRED. Trade contest offered in the 50 U.S. & U.S. Territories (“U.S.”) to full/part-time emerging Design students at U.S. eligible Institution (see Rules) who are legal U.S. res., 18+. Ends 11:59 P.M. PT 11/10/24. See Official Rules at: www.behr.com/designcompetition for entry, judging criteria and limitations. Void where prohibited. Sponsor: Behr Process LLC.

About Behr Paint Company
Founded in 1947, Behr Paint Company is one of the largest manufacturers of paints, primers, decorative finishes, stains, surface preparation and application products for do-it-yourselfers and professionals in the United States, Canada, and Mexico. The Santa Ana, Calif.-based company, and maker of BEHR®, KILZ® and WHIZZ® brands, are dedicated to meeting the project needs of DIYers, designers and professional paint contractors with an unwavering commitment to quality, innovation, and value. For more information, visit Behr.com. Professional paint contractors and designers can visit Behr.com/Pro to learn about products, color tools and services. Behr Paint Company is a subsidiary of Masco Corporation (NYSE: MAS).

Behr and the Behr logo are registered trademarks of Behr Process LLC.

About MattoBoard
MattoBoard is the first virtual sample library (VSamples©) and 3D moodboarding tool for interior designers. Designers can search, discover, curate and specify interior materials and products in real-time using light and shadow to examine texture and detail. Designers can download and share beautiful, photo-realistic boards and material spec sheets. MattoBoard’s mission is to bring a ‘touch and feel’ industry into the future by pioneering virtual sampling for designers and brands.

Media Contact: behrpro@mbooth.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/behr-paint-company-hosts-first-student-design-competition-302252741.html

SOURCE Behr Paint Company

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