private void Form1_Load(object sender, System.EventArgs e)
{
    axSftDirectory1.OLEDragMode = SftControlOLEDragModeConstants.OLEDragSftControlManual;
}

private void axSftDirectory1_DragStarting(object sender, AxSftDirectoryLib25._ISftDirectoryEvents_DragStartingEvent e)
{
    SftDirectoryFolder f;
    f = axSftDirectory1.CurrentFolder;
    if (f != null) {
        axSftDirectory1.OLEDrag(false, true, -1, -1);
    }
}

private void axSftDirectory1_OLEStartDrag(object sender, AxSftDirectoryLib25._ISftDirectoryEvents_OLEStartDragEvent e)
{
    e.data.Clear();
    e.data.SetData(null, SftOLEClipboardConstants.sftCFText);
    e.allowedEffects = 1; //vbDropEffectCopy
}

private void axSftDirectory1_OLESetData(object sender, AxSftDirectoryLib25._ISftDirectoryEvents_OLESetDataEvent e)
{
    if (e.format == (short) SftOLEClipboardConstants.sftCFText) {
        e.data.SetData("We're dragging a text string - \"" + axSftDirectory1.CurrentFolder.Name + "\" - drop it in Write, Word (for example)", SftOLEClipboardConstants.sftCFText);
    }
}