Pentasoft Technologies - FY 09 results by Jun 30, 2009

Pentasoft Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 30, 2009, inter alia, has discussed at length the matter pertaining to consideration of unaudited financial results for the fourth quarter ended March 31, 2009 and decided to consider Audited Financial Results instead of Unaudited Financial Results for the reasons mentioned below :

The Company has filed a petition before the Hon'ble High Court of Judicature at Madras for sanction of Composite Scheme of Amalgamation between Pentasoft Technologies Ltd and Pentamedia Graphics Ltd, which has already been approved by the Shareholders and Creditors at the respective Court Convened Meetings held on February 11, 2009.

The Final Hearing of the said petition will be taken up only after re-opening of the Hon'ble High Court of Judicature at Madras, which will be around second week of June, 2009.

As per Clause 41(1)(d) of the Listing Agreement, if the Company opts to submit the Audited Financial Results for the entire financial year, it has to submit the same within three months from the end of the financial year. Accordingly, the Board of Directors taking into account the reasons stated above, has decided to consider Audited Accounts for the financial year ended March 31, 2009.