Satyam Files Application to Delist ADSs from Euronext Amsterdam
April 14 2009 - 8:49AM
PR Newswire (US)
HYDERABAD, India, April 14 /PRNewswire-FirstCall/ -- Satyam
Computer Services Ltd. (NYSE:SAY)(BSE:SATYAM)(NSE:SATYAMCOMP) (the
"Company") announced today that it had filed an application for
delisting from NYSE Euronext, the regulated market of Euronext
Amsterdam ("Euronext Amsterdam"), of its American Depositary Shares
("ADSs"), which are currently traded on Euronext Amsterdam. Upon
careful consideration of the advantages and disadvantages of its
listing on Euronext Amsterdam, the board of directors of the
Company has come to the conclusion that the financial and legal
burdens of a listing no longer justify a listing on Euronext
Amsterdam. The application for delisting is subject to the approval
of Euronext Amsterdam. Upon delisting from Euronext Amsterdam, the
Company's equity shares are expected to remain listed and traded on
the Bombay Stock Exchange Limited ("BSE") and the National Stock
Exchange of India Limited ("NSE"), and its ADSs are expected to
remain listed and traded on the New York Stock Exchange in New York
("NYSE"). The Company does not currently intend to delist from any
of the BSE, NSE or NYSE. 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/.
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, including
statements regarding the Company's delisting from Euronext
Amsterdam, are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
reflected in the forward-looking statements. In particular, there
can be no assurance that the Company's delisting application will
be approved by Euronext Amsterdam. Satyam undertakes no duty to
update any forward-looking statements. DATASOURCE: Satyam Computer
Services Ltd. CONTACT: Satyam Media Relations, Web Site:
http://www.satyam.com/
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