HOV Services has informed that the Board of Directors of the Company at its meeting held today had considered and approved: To exchange HOVS LLC common stock held in Exela Technologies Inc. ('Exela' NASDAQ listed), in Exchange Offer announced by Exela on April 18, 2022, Borrowing money/securing funds from bank/s against its immovable property and trade receivables and Investing upto US$ 1.4M in HOVS LLC, its wholly owned subsidiary as per business requirements.
The above information is a part of company’s filings submitted to BSE.
