Company Law Board Authorizes Satyam to Induct Strategic Investor and Raise Authorized Equity Capital
February 19 2009 - 12:24PM
PR Newswire (US)
HYDERABAD, India, Feb. 19 /PRNewswire-FirstCall/ -- Satyam Computer
Services Ltd. (NYSE:SAY), a leading global consulting and
information technology services provider, announced today that its
Board of Directors has received authorization from the Company Law
Board (CLB) to increase its authorized equity, to make a
preferential allotment of shares, and to induct strategic
investor(s) into the company. "Satyam welcomes this move, which
serves the interests of all its stakeholders," said a company
spokesperson. About Satyam Satyam (NYSE:SAY), a leading global
business and information technology services company, delivers
consulting, systems integration, and outsourcing solutions to
clients in numerous industries across the globe. Satyam leverages
deep industry and functional expertise, leading technology
practices, and an advanced, global delivery model to help clients
transform their highest-value business processes and improve their
business performance. The company's professionals excel in
engineering and product development, supply chain management,
client relationship management, business process quality, business
intelligence, enterprise integration, and infrastructure
management, among other key capabilities. Satyam development and
delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt,
UAE, India, China, Malaysia, Singapore, and Australia serve
numerous clients, including many Fortune 500 organizations. For
more information, see http://www.satyam.com/. Satyam Contacts For
clarifications, write to us at: Or Contact our PR representatives:
India Archana Muthappa +91-984-518-3710 Ritika Kaushik
+91-970-326-9292 US Jim Swords +1-703-877-2225 Europe Sandeep
Thawani +44-783-010-3838 Asia-Pacific Dan Bleakman +61-439-408-484
Reshma Wad Jain +65-98-140-507 Safe Harbor This press release
contains forward-looking statements within the meaning of section
27A of Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements contained herein are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those reflected in the forward-looking statements. Satyam
undertakes no duty to update any forward-looking statements. For a
discussion of the risks associated with our business, please see
the discussions under the heading "Risk Factors" in our report on
Form 6-K concerning the quarter ended September 30, 2008, furnished
to the Securities and Exchange Commission on November 7, 2008, and
the other reports filed with the Securities and Exchange Commission
from time to time. These filings are available at
http://www.sec.gov/. DATASOURCE: Satyam Computer Services, Ltd.
CONTACT: India: Archana Muthappa, +91-984-518-3710, , or Ritika
Kaushik, +91-970-326-9292, , or US: Jim Swords, +1-703-877-2225, ,
or Europe: Sandeep Thawani, +44-783-010-3838 , all of Satyam
Computer Services Ltd.; or Asia-Pacific: Dan Bleakman,
+61-439-408-484, , or Reshma Wad Jain, +65-98-140-507, , both for
Satyam Computer Services Ltd. Web Site: http://www.satyam.com/
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