(9 April 2009 2:05 pm)

MUMBAI: Pyramid Saimira Theatre Ltd. (PSTL) is exiting from the gaming business and is in the process of selling its gaming subsidiary Aurona Technologies.

Though the company states that it's quitting the gaming business as the segment holds no long-term prospective.

UK-based Aurona Technologies was acquired by the theatre chain group in January last year. The company was acquired so that Pyramid could make its presence felt in the European markets. Now, faced with a cash crunch in a downturn economy, the company is ready to negotiate the deal at low values.

PSTL promoter and CMD PS Saminathan sold 6.037 per cent stake in the company following tight liquidity crunch in January this year. He also sold 1.7 million (1,707,000) shares in an off-market sale between 20-31 December last year.

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