KLG hopes to repurchase $16 million in foreign currency convertibles

By Devika Patel

Knoxville, Tenn., Jan. 23 - KLG Systel Ltd. informed the Bombay Stock Exchange that it resolved to buy back $16 million of its foreign currency convertible bonds at a board of directors meeting on Jan. 23, subject to the availability of funds.

Based in Gurgaon, India, KLG produces specialized software for use in computational engineering and sciences, project management, power system management, automation and supply chain optimization.

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