Satyam Crisis[Update]: Founder's stake falls to 5.1 pct from 8.3

Satyam founders' stake falls to 5.1 pct from 8.3:

The promoter holding in Satyam Computer Services has dropped by over three per cent to 5.13 per cent following share sale by lenders, with whom Ramalinga Raju and family had pledged all their shares.

STEADY DECLINE

Year Promoter stake (in %)

Mar 2001 25.60

Mar 2002 22.26

Mar 2003 20.74

Mar 2004 17.35

Mar 2005 15.67

Mar 2006 14.02

Mar 2007 8.79

Dec 2008 5.13

The biggest reduction came in March 2007 when the stake went down to single digits at 8.79 per cent.

Customers continue to show trust in Satyam: Raju

Even as four of the company's independent directors have tendered their resignations, following the company's failed bid to buy his family-promoted Maytas Properties and Maytas Infra, founder and chairman of the beleaguered Satyam Computer Services, B Ramalinga Raju, said that the company's customers "continue to show a high level of trust in Satyam".

Raju stated that Satyam had also been in contact with many of its investors, and the company had taken key steps to regain their confidence.

Satyam staff keep their fingers crossed:

Source: The Hindu

HYDERABAD: Amid the raging controversies, some employees in Satyam Computer Services have embarked on a job search, while a large workforce has kept its fingers crossed on the future of the company in the wake of reports suggesting that there is a likelihood of change in management.

Senior Satyam staff in search of other jobs:

Bangalore: After the drop out of some Independent Directors, Satyam's shaky movements force many of its employees to think about new jobs and they have started approaching recruitment firms to find out similar jobs in other organizations. Though Satyam's Founder and Chairman B. Ramalinga Raju has requested the employees to stay with the firm till everything is back on track, the employees seem to be not at all willing to wait anymore and they are in search of new jobs, reported Financial Chronicle.

"We have got a number of calls in the past few days from people in the Vice-President, Senior Vice-President level and above, looking for other options," said Kris Lakshmikanth, Chief Executive Officer of Bangalore-based Head Hunters India. Not only senior level employees but also employees at lower levels have started new job searching.