|
| Exchange Disseminated Time | HOV Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 12, 2009, has considered and approved the restructuring of HOV AR Management Services Pvt. Ltd. (HOV AR) and HOV Services (Beijing) Ltd. (HOV B) the ultimate subsidiaries of the Company.
The restructure process will involve the following:
1. Sale and transfer of ownership of HOV AR from Lason India Pvt. Ltd., a subsidiary of the Company to Tracmail AR Services Pvt. Ltd., another subsidiary of the Company; and
2. Transfer of ownership of HOV B from HOVS Holdings Ltd., a subsidiary of the Company to HOV Services LLC, another subsidiary of the Company.
The above restructuring process will be subject to all regulatory and other approvals as required. |
|
|