HCL Tech gets backing from Axon directors
Their beneficial holding is currently an aggregate of 147,420 Axon shares, representing around 0.2% of the existing issued share capital of the UK company. HCL Technologies Ltd. said on Tuesday that Axon Group Directors (other than Royston Hogarth) and a key employee of Axon have entered into irrevocable undertakings with HCL EAS Ltd., pursuant to which each.. of them has irrevocably undertaken to vote or procure the vote in favour of the resolutions to be proposed at the HCL meetings or, in the event that the HCL acquisition is implemented by way of a takeover offer, to accept or procure the acceptance of such offer in respect of their entire beneficial holding of Axon Shares.
Their beneficial holding is currently an aggregate of 147,420 Axon shares, representing around 0.2% of the existing issued share capital of the UK company. The undertakings remain binding even if a higher offer is made by a third party, but cease to be binding (a) on the withdrawal or lapse of the HCL scheme, or (b) if the HCL acquisition is implemented by way of a takeover offer, on such offer lapsing or being withdrawn.
source: Indiainfoline
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