Interworld Digital approves allotment of 3449600 warrants

Interworld Digital Ltd has announced that the Board of Directors of the Company at its meeting held on June 08, 2009, inter alia, has accepted the resignation of the existing auditors of the Company. They themselves have shown their unwillingness to continue as statutory auditors of the Company. To fill in the vacancy the board has approved the proposal of M/s. RMA & Associates, Chartered accountant to act as a Statutory Auditors of the Company.

The Board discussed and adopted the future plan of the Company "VISISON 2010".

The Board approved raising of approx 10 million US Dollars amount of funds from the GDR / ADR /QIP etc. The Board also approved preferential allotment of 34,49,600 convertible warrants to the persons belonging to the promoter group and 1,65,50,400 convertible warrants to the persons belonging to non-promoter group.

The Board will take the approval of the shareholders of the Company for the above items in an Extra ordinary General meeting of the company which will be held on July 04, 2009.

Source : Equity Bulls

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