HOV Services
Published on Wed, Oct 08 at 15:14,
Source : NSE
Hov Services Limited has informed the Exchange that "The Board of Directors of the Company in its meeting held on October 8, 2008 had resolved to empower the Steering Committee consisting of the Independent Directors to continue the negotiation with the buyer, to remove any variability in purchase consideration linked to the share price of the Company and any other contingency. The Board had viewed the Letter of Intent of the buyer. Valuation Report, draft of the Fairness Opinion and fully concurs with the documents and keeping in view the present market conditions, decided to postpone the Transaction in the best interest of the shareholders' till further notice".
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