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| Exchange Disseminated Time | HOV Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 03, 2011, has considered and approved the following;
1. The financial year of the Company has been changed to January-December and that the financial statements will be prepared for the current financial year for a period of 9 months commencing from April 01, 2011 to December 31, 2011.
2. Subsequent financial years of the Company will be the calendar year.
3. Company will report its quarterly reviewed financial results on a stand-alone basis henceforth.
4. Company will with the annual report also publish the consolidated financial statements.
5. The Corporate Guarantee of US$ 37.5 million stands extinguished on account of repayment of loan by HOV services LLC; and
6. Mr. Sunil Rajadhyaksha, Executive Director has been appointed Chairman of the Company. |
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