June 1 (Reuters) - Data Group Ltd DGI.TO :
* Data group ltd. Announces the retention of Michael G.
Sifton as CEO; changes to its board of directors; and completion
of a common share private placement
* Sifton has re-joined board
* Data group ltd says has raised $2.35 million pursuant to
its previously announced private placement of common shares
* Entered into a settlement, nomination and standstill
agreement with kst and takhar
* Understands that kst currently owns approximately 15.54%
of issued and outstanding common shares
* j.r kingsley ward has been appointed chair of board
* Harinder takhar has resigned as a director of data
effective immediately
* Agreed to include an eligible designee of kst in its slate
of nominees for election as directors of company
* Data group ltd says entered into subscription agreement
with kst industries inc for purchase of 30.9 million common
shares
* Co agreed it will not redeem any of outstanding 6%
convertible unsecured subordinated debentures, other than for
cash, prior to nov 30
* Data group ltd says upon completion of kst private
placement, kst would own about 15.54% of issued and outstanding
common shares
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