HOV Services
Published on Tue, Oct 07 at 09:03,
Source : BSE
HOV Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 08, 2008, inter alia, to review an offer received from Recap, LLC ("Recap") to purchase; (i) all assets (including shares) owned by HOV Services, LLC ("HOVS"), a key subsidiary of the Company incorporated in Nevada, USA, (ii) the entire share capital in HOV Services (Beijing) Ltd ("HOVS B"), presently held by HOVS Holdings Ltd, another wholly owned subsidiary of the Company incorporated in Hong Kong; and (iii) all operating assets used by HOVS and HOVS B owned by the Company. This offer has been received by the Company in continuation of the material transaction notified to you vide the letter dated June 5, 2008. The said transfer, if approved by the Board of Directors, would require the approval of the members of the Company by an ordinary resolution, through a Postal Ballot pursuant to Section 293 (1) (a) and l92A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001, and other regulatory approvals.
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