Uniflex Cables EGM on Nov 03, 2006 to consider preferential issue

Uniflex Cables Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 03, 2006, inter alia, to offer, issue and allot the following Equity Shares, Equity Warrants and Fully Convertible Debentures for cash on a preferential basis, in one or more tranches and, on such terms and conditions as may be deemed appropriate by the Board or Committee thereof.

a. Upto 5,33,000 fully paid-up Equity Shares of the Company of a face value of Rs 10 per share at a subscription price of Rs 25/- per equity share, inclusive of premium of Rs 15/- per share, aggregating to Rs 1,33,25,000/- to Promoter / Promoter Group/s ("Promoters"), for cash on preferential allotment basis in one or more tranches and on such terms and conditions as may be deemed appropriate by the Board.

b. Upto 2,67,000 fully paid-up Equity Shares of the Company of a face value of Rs 10 per share at a subscription price of Rs 25/- per equity share, inclusive of premium of Rs 15/- per share, aggregating to Rs 66,75,000/- to Brescon Corporate Advisors Ltd. ("Brescon"), Mumbai for cash on preferential allotment basis in one or more tranches and on such terms and conditions as may be deemed appropriate by the Board.

c. Upto 29,50,000 Fully Convertible Debentures (FCDs) of Rs 25/- each aggregating to Rs 7,37,50,000 to the ADM MACULUS FUND II L.P ("MACULUS II") an entity duly organized and existing under and by virtue of the laws of the Cayman Islands, a fund managed by Asia Debt Management Hong Kong Ltd, an asset advisor based in Hong Kong. The entire amount of Rs 7,37,50,000/- will be converted compulsorily and automatically within a period not exceeding 18 months from the date of allotment, into 29,50,000, fully paid-up equity shares of Rs 10/- each of the Company at Rs 25/- per equity share.

d. Upto 26,67,000 Equity Warrants to Promoter / Promoter Groups ("Promoters"), as detailed hereunder (exercisable in tranches and having a currency period of not exceeding 18 months, and each equity warrant providing the holder the option to subscribe to one fully paid-up Equity Share of Rs 10/- each (aggregating upto 26,67,000 Equity Shares) at an exercise price of Rs 25/- per Equity Share. Of this, 10% would be payable at the time of allotment of the equity warrant and 90% would be payable at the time of exercise of the option by Promoters.

e. Upto 29,50,000 Equity Warrants to ADM MACULUS FUND II L.P ("MACULUS II") an entity duly organized and existing under and by virtue of the laws of the Cayman Islands, a fund managed by Asia Debt Management Hong Kong Ltd, an asset advisor based in Hong Kong, exercisable in tranches and having a currency period of not exceeding 18 months, and each equity warrant providing the holder the option to subscribe to one fully paid-up Equity Share of Rs 10/- each (aggregating up to 2950,000 Equity Shares) at an exercise price of Rs 25/- per Equity Share. Of this, 10% would be payable at the time of allotment of the equity warrant and 90% would be payable at the time of exercise of the option by "MACULUS II".

f. Upto 5,33,000 Equity Warrants to Brescon Corporate Advisors Ltd ("Brescon"), Mumbai exercisable in tranches and having a currency period of not exceeding 18 months, and each equity warrant providing the holder the option to subscribe to one fully paid-up Equity Share of Rs 10/-each (aggregating up to 5,33,000 Equity Shares) at an exercise price of Rs 25/- per Equity Share. Of this, 10% would be payable at the time of allotment of the equity warrant and 90% would be payable at the time of exercise of the option, by Brescon, subject to necessary provisions & approvals.

Source : Equity Bulls

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