Satyam Computer Services Ltd.
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Publicatie datum
30 dec 2008 - 12:33
Statutaire naam
Satyam Computer Services Ltd.
Titel
Satyam to Consider Additional Strategic Actions
Bericht
Satyam Computer Services Ltd. (NYSE:SAY), a leading global
consulting and IT services provider, today announced that the next meeting of its Board of Directors has
been rescheduled to January 10, 2009 in order to allow the board to consider additional options.
“Satyam’s Board of Directors recognizes the serious nature of certain questions raised by the events of
the last two weeks,” said B. Ramalinga Raju, Chairman and Founder of Satyam. “In order to ensure
that these questions are properly addressed, and that the interests of stakeholders are fully and carefully
considered, Satyam has decided to broaden the scope of its deliberations beyond a possible buy-back of
its stock.”
Additional possible actions include:
• Measures to strengthen Satyam’s governance structure, including increasing the size and altering
the composition of the board.
• Conducting a review of the company’s strategic options to enhance shareholder value. The
company has engaged DSP Merrill Lynch to assist in this review.
• Addressing issues arising from a possible dilution of the promoter’s stake in the company.
The board is expected to make recommendations on these matters at the January 10th meeting.
“Satyam takes the interests of its stakeholders very seriously, and we will take whatever steps are
necessary to reinforce their trust and confidence in the company,” Mr. Raju added.
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