Outcome of Board Meeting

| Updated on July 17, 2012 Published on July 17, 2012

Iris Mediaworks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 12, 2012, inter alia, has approved the following business:

1. To Incorporate a Subsidiary / Wholly-Owned Subsidiary of the Company in United States of America under the name and style of ’IRIS Mediaworks Limited USA Inc.’.

2. To forfeit the 25% Application money paid by the Warrants Holders of the Company under the Preferential Issue of Convertible Equity Warrants, as the said warrant holders did not exercise their option to take Equity Shares against warrants held by them within the tenure of 18 months as per SEBI (ICDR) regulations, 2009.

Source : BSE - >www.bseindia.com

Published on July 17, 2012
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