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Silverline Technologies Ltd.

BSE: 500389 Sector: IT
BSE 05:30 | 01 Jan Silverline Technologies Ltd
NSE 05:30 | 01 Jan Silverline Technologies Ltd

Silverline Technologies Ltd. (SILVERLINE) - Chairman Speech

Company chairman speech

Mr. Ravi Subramanian at the 29th Annual General Meeting

Dear Shareholder's

Welcome to the 29th Annual General Meeting of your company Silverline Technologies Ltd.On behalf of the Board of Directors I thank you for joining us today. Your presence todayis indeed a true testimony of the deep interest you have in the company and the supportyou have extended to the company management.

In the last AGM I shared with you our revival plan and the game plan for theimplementation of the revival strategy. I must admit that despite our best efforts we wereunable to take up the implementation of the revival plan. The main constraint was ourinability to mobilize funds required for implementing the revival plan.

As you are aware our trading at the BSE is under suspension and this proved to be majorhurdle in our fund raising efforts. We realized that unless we are back in the trading ofsecurities it would be very difficult to mobilize funds. Towards this end we heldextensive deliberations to understand all the outstanding issues which need to beaddressed to qualify for removal of suspension of trading at the BSE. The company notbeing in operation for over 9 years proved to be a major deterrent and we had to addressseveral open issues in different quarters.

We were committed to revival of the company and the lean team which worked with me dida remarkable job in progressively ensuring that each of the open issues is fully addressedand closed out. The progress on this front despite the various constraints has been verygood and I sincerely thank the team for their contribution in this area.

In this period we fine-tuned the revival strategy and realized the need to address themarket opportunities in the Digital space. The reconstituted SBU's is as under:

SBU 1 - SAP Consulting Services

SBU 2 - SAP HANA Practice

SBU 3 - Pharma/Life Sciences -SMB segment

SBU 4 - Supply Chain Finance

SBU 5 - Cyber Security Business

SBU 6 Digital Business initiatives.

We are confident that in the coming year we would have successfully initiatedimplementation of the revival plan and all efforts are being made to get the suspension ofthe trading removed and ensure commencement of trade. I fully appreciate the patienceshown by each one of you and you can be rest assured that your management team is fullygeared up to deliver the commitments made for removal of the suspension of trading at theBSE and initiating implementation of the revival plan for the company.

I take this opportunity to express my deepest gratitude to our Partners ClientsEmployees and other stake holders who stood with us in the difficult times. I thank themfor the advice guidance and support. Your goodwill and continued patronage have been themotivating force in our drive to revive the company and achieve the pinnacle of growthwhich this company achieved in the past. I am very confident that together we can makethis happen.

Best wishes to each one of you and your family and please do take good care.

Thanking You
Ravi Subramanian
Promoter and Chairman