Outcome of 20th Annual General Meeting

HOV Services Ltd has informed BSE that the members at the 20th Annual General Meeting (AGM) of the Company held on September 30, 2008, inter alia, have taken the following decisions:

1. Adopted the Balance Sheet as at March 31, 2008 and Profit and Loss Account of the Company together with Schedules and Notes annexed thereto and the Cash Flow Statement for the year ended on that dale and the Reports of the Directors and Auditors thereon.


2. Mr. B R Gupta, who was to retire by rotation, at the 20th Annual General Meeting, has been re-appointed.


3. M/s. Lodha & Co., Chartered Accountants, the retiring Auditors have been re-appointed as Auditors of the Company to hold office from the conclusion of the 20th Annual General Meeting till conclusion of the next Annual General Meeting on such remuneration as may be mutually agreed between the Board of Directors and the said Auditors.


4. Approved “HOVS Stock Option Plan 2008” to subscribe to such number of equity shares of the Company which may give rise to the issue of equity shares of the Company not exceeding in aggregate 7,50,000 equity shares of the Company to eligible employees of subsidiary Companies.