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Company Law Board Authorizes Satyam to Induct Strategic Investor, Raise Authorized Equity Capital and < Make Preferential Allotment of Equity Shares
 
  • HYDERABAD, India, Feb. 19, 2009 – 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. The CLB order is attached.

    “Satyam welcomes this move, which serves the interests of all its stakeholders,” said a company spokesperson.

     

    Satyam Contacts:

    For clarifications, write to us at MediaRelations@Satyam.com

    Or contact our global Satyam PR representatives at:


    India                                        Archana Muthappa Archana_Muthappa@Satyam.com
    +91-984-518-3710
    Ritika Kaushik Ritika_Kaushik@Satyam.com
    +91-970-326-9292
    US                                           Jim Swords James_Swords@satyam.com
    +1-703-877-2225
    Europe                                    Sandeep Thawani Sandeep_Thawani@Satyam.com
    +44-783-010-3838
    Asia-Pacific                          Dan Bleakman Dan@howorth.com.au
    +61-439-408-484           
    Reshma Wad Jain Reshma@wer1.net
    +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




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