Mumbai : Hexaware Technologies Limited, a leading global provider of IT, BPO and consulting services, today announced in its board meeting special rewards to its shareholders in the form of 1:1 bonus share issue and 50% special interim dividend to celebrate the 20th anniversary of the company. Speaking on this occasion, Atul Nishar, Chairman, Hexaware Technologies Limited, said “The bonus issue is to reward shareholders on completion of 20 years. The bonus is more relevant as we are quite positive about growth and margin expansion going forward, which allows us to offer a consistent stream of healthy dividend outflows even on an expanded share capital base.”

Issuance of Bonus Shares

On the 20th anniversary of the Company, the Board of Directors today recommended a commemorative issue of Bonus shares to equity shareholders in the ratio of 1:1, i.e. one additional equity share for every existing equity share, by capitalizing a part of the general reserves. This issue is subject to shareholders’ approval at the Extra-ordinary General Meet scheduled for 15th February 2011. Bonus shares shall be credited on or before March 9, 2011.

The paid-up equity share capital of the Company was ` 290 million and the Reserves and Surplus were approximately ` 9,351 million as at September 30, 2010. The Company’s issued equity shares were 145,200,980 including 10,645,480 American Depository Receipts and Global Depository Receipts representing 10,645,480 underlying equity shares. Consequent to the proposed issuance of bonus shares, the company’s issued equity shares would increase to 290,401,960 and the equity share capital would expand to ` 580 million.

Special Interim Dividend

To mark the 20th anniversary, the Board of Directors also declared a special interim dividend of ` 1 per share (50%) on equity shares of ` 2 each. The Record Date for the same has been fixed as 21st January, 2011 for determining the shareholders entitled for this Special Interim dividend. Special Interim Dividend shall be paid to the shareholders on or before January 28, 2011. The Company had earlier paid 30% interim dividend after announcing half-yearly results for the period ending June 30, 2010 and the Company is scheduled to announce final dividend while reporting full-year 2010 results.