Uniflex Cables - Outcome Of Board Meeting

Uniflex Cables Ltd has informed that the Board of Directors of the Company at its meeting held on February 11, 2008, inter alia, has approved the following transactions:

1. Proposed agreement between the Promoters of the Company and M/s. Apar Industries Ltd to sell the following Securities to Apar Industries Ltd as Acquirer.

- Selling Party: Promoters Group of the Company

- No of Securities: 40,81,000 Equity Shares of Rs 10/- each of Uniflex

- Price per Security: Rs 48.50

- Total Amount Payable : Rs 19,79,28,500

2. Proposed security purchase agreement between the M/s. Apar Industries Ltd and ADM Maculus Fund II and the Company to sell the following Securities to Apar Industries Ltd.

i. Selling Party: ADM Maculus Fund II L.P.

- No of Securities: 29,50,000 Equity Warrants of the Uniflex of Rs 25 each on which Rs 2.50 has been paid

- Price per Security: Rs 26.00

- Total Amount Payable : Rs 7,67,00,000

ii. Selling Party: ADM Maculus Fund II L.P.

- No of Securities: 29,26,800 Fully Convertible Debentures (FCDs) of Rs 25 each of Uniflex

- Price per Security: Rs 48.50

- Total Amount Payable : Rs 14,19,49,800