Silverline board mulls international offering of equity

CIOL Bureau
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Silverline Technologies Ltd. has informed the Bombay Stock Exchange that a

meeting of the board is scheduled to be held on June 20, 2002 to consider an

international offering of equity/equity linked securities.

The company, in a press release earlier, said that it has retained the
Technology Investment Banking Group of TAIB Bank to assist in financial and

strategic re-structuring of the company. TAIB will lead manage the financing and

working capital re-structuring to assist the company in meeting its growth

capital needs and existing debt obligations.

TAIB will also work closely with the company board to address certain strategic
issues, which include institutionalizing best practices in corporate governance,

greater operational and financial transparency and strengthening of its India

based senior management team.