HOV SERVICES LTD. - Updates on Merger Transaction-SourceHOV

With reference to the earlier announcement dated November 05, 2014, HOV Services Ltd has now informed BSE that post merger of BancTec Group LLC with SourceHOV Holdings Inc. (SourceHOV), the stake holding of HOVS LLC in SourceHOV has increased to 44.82% in the combined entity, as majority stakeholder the Rohatyn Group ("TRG") (formerly known as CVCI) exited out in the merger.