We wish to inform you that the Board of Directors of the Company has today passed a resolution to approve the proposed change in name of the Company from 'Containerway International Limited' to 'Indus Aluminum Recyclers Limited ' or any other name as may be available and approved by Ministry of Corporate Affairs and consequential alteration in Memorandum of Association and Articles of Association of the Company to give effect to the change of name of the Company, subject to the approval of shareholders of the Company by way of special resolution and other concerned authorities.