The Hindu Business Line : Eonour promoter trims stake to 2.5%

THE promoter of Eonour Technologies Ltd, Mr R. Karthik, has reduced his stake in the company to 2.54 per cent for the quarter ended March 31, 2004. A year ago, his stake in the company was 41.36 per cent, and two years ago it was 69.34 per cent. Mr Karthik is the Chairman and Managing Director of the city-based software firm.

On the contrary, the public shareholding in Eonour increased to 91.76 per cent for the quarter ended March 31, 2004 against 56.70 per cent a year ago and 23.77 per cent two years ago, according to the sources in the Bombay Stock Exchange (BSE).

A recent announcement to BSE by Eonour said that STADS World Ltd, the company's subsidiary, would take over the export and deemed export business of Eonour. This will help Eonour focus on its operations, capitalise on the growing business and attract investors.

Eonour Businessway Ltd, another fully owned subsidiary of Eonour, will take over the company's South East Asian business, which is to consolidate the operations process and investment prospects abroad, according to recent information to the BSE.

In January, Eonour' board of directors approved the company's proposal to sell, lease and dispose of the South East Asian business and other operations of the company in India and abroad.

Despite repeated attempts by Business Line, neither Mr Karthik nor any other senior company official of Eonour was available for comment.

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