Tech mahindra
Tech mahindra

Satyam announces approval from the Federal Cartel Office of Germany and in-principle approval from BSE and NSE

Hyderabad, 24 April 2009: Satyam Computer Services Limited. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP) (the "Company"), announced today that the Seventh Division of the Federal Cartel Office of Germany has issued a letter dated 22 April, 2009 (the “FCO Letter”), permitting the completion of the acquisition of a controlling stake in the Company by Venturbay Consultants Private Limited, a subsidiary controlled by Tech Mahindra Limited.  

The Company has also received ‘in-principle’ approvals from the Bombay Stock Exchange Limited dated 22 April, 2009 (the “BSE”, and such letter, the “BSE Letter”)  and the National Stock Exchange of India Limited dated 22 April, 2009 (the “NSE”, and such letter, the “NSE Letter”)  for the issuance of 30,27,64,327 (Thirty Crores Twenty Seven Lakhs Sixty Four Thousand Three Hundred and Twenty Seven Only) equity shares (the “Initial Shares”) of Rs. 2/- each at a premium of Rs. 56/- per share to Venturbay Consultants Private Limited on a preferential basis. Upon allotment of the Initial Shares, the Company will seek the approval of the BSE and NSE for listing and trading of the Initial Shares.

This press release, an English translation of the FCO Letter, the BSE Letter and the NSE 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 on the Company's website at http://www.satyam.com and the SEC's website at http://www.sec.gov. Further, this press release and the FCO Letter are being submitted to the BSE and the NSE.

English Translation of FCO Letter

BSE In-Principle Approval - April 22, 2009

NSE In-Principle Approval - April 22, 2009

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

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 the 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 allotment of the Initial Shares, 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.

 

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Tech Mahindra represents the connected world, offering innovative and customer-centric information technology services and solutions, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.2 billion company with 107,200+ professionals across 90 countries, helping over 818 global customers including Fortune 500 companies. Our innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value to our stakeholders. Tech Mahindra is also amongst the Fab 50 companies in Asia as per the Forbes 2016 List.

We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractorsutility vehicles,after-marketinformation technology and vacation ownership.

Connect with us on www.techmahindra.com

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