Unitech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2009, inter alia, has approved the following proposals subject to the requisite approvals:
1. Raising of additional long-terms funds through issuance of further securities in the Company.
2. Issuance of Warrants in the Company to the Promoter(s) on preferential basis in terms of Chapter XIII of the SEBI (Disclosures & Investor Protection) Guidelines, 2000.
The Board has also decided to convene the Extra-ordinary General Meeting of members of the Company to obtain their necessary approvals to the above proposals.