Satyam submits letter to SEBI regarding bidding process
Hyderabad,
INDIA, March 24, 2009:
Satyam Computer Services Ltd. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP)
(the "Company") announced today that it had submitted a letter (the
“SEBI Letter”) to the Securities and Exchange Board of India (“SEBI”) relating
to the process to be followed by the Company pursuant to Regulation 29A of the
SEBI Takeover Regulations to select an investor and the in-principle
exemptions/relaxations granted by SEBI from applicable SEBI regulations and
guidelines. This press release and the SEBI Letter are being furnished to the
U.S. Securities and Exchange Commission (the “SEC”) on Form 6-K, and are
available to the public over the Internet at the SEC’s website at http://www.sec.gov
and on the website of Bombay Stock Exchange and National Stock Exchange
This press release is not an offer of
securities for sale in the United States.
Securities may not be offered or sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act of
1933, as amended. Any public offering of
securities to be made in the United States will be made by means of a
prospectus that may be obtained from the Company and that will contain detailed
information about the Company and its management, as well as financial
statements. The Company does not intend
to register any securities in the United States or to conduct a public offering
of securities in the United States.
As previously disclosed, the Company Law
Board Principal Bench New Delhi authorized the Company’s Board of Directors to
select an investor, subject to certain conditions. SEBI’s approval is not an
assurance that any qualified investor will bid to acquire any interest in the
Company at an appropriate price or at all.
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 www.satyam.com.
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
US Bob Olivier Robert_Olivier@Satyam.com +1-301-654-0535
Europe Sandeep Thawani Sandeep_Thawani@Satyam.com
+44-783-010-3838
Asia-Pacific Graham White graham@howorth.com.au +61-2-8281 3808
Reshma Wad Jan Reshma@wer1.net +65-98-140-507
