HP not to delist Digital
Our
Convergence Bureau
22 July 2003
Bangalore:
At the 16th annual general meeting of Digital Globalsoft
(DGS) here, R Schuster, a member of the Digital''s board
and Hewlett Packard representative, said that Digital''s
current operation and structure are in line with HP''s
operations and there is no reason to alter the current
structure of DGS by delisting the company''s stock.
HP currently holds a 51-per cent stake in DGS and after the merger of its wholly-owned subsidiary in India, HP''s stake in DGS is likely to go up to 76 per cent.
Digital vice-chairman Hemant Sonavala said the company expects to fund its targeted growth of 50 per cent compound annual growth rate over the next four years through internal accruals. "A portion of the reserves generated through profits, which are not used to fund growth, could be paid out as dividend."
