UNIFLEX CABLES LTD. - Updates on Draft Rehabilitation Scheme

With reference to earlier announcement dated August 25, 2011 informing about the shareholders' approval to the Draft Rehabilitation Scheme of the Company envisaging Amalgamation of the Company with Apar Industries Limited (AIL), the Holding Company, with cut-off-date as March 31, 2010, subject to the approval of the Hon'ble Board for Industrial and Financial Re-construction (BIFR), Uniflex Cables Ltd has nowo informed BSE that based on the Rehabilitation Scheme submitted by the Syndicate Bank, Operating Agency (OA), the BIFR has formulated Draft Rehabilitation Scheme (DRS) which is circulated by BIFR vide its Order dated May 03, 2012 and notified for consideration of all concerned. The next hearing is scheduled on July 23, 2012 at BIFR, New Delhi.<br/><br/>The DRS inter alia envisages amalgamation of the Company w.e.f. April 01, 2010 and also issue of 1 (one) fully paid Equity Share of Rs. 10/- each of Apar Industries Ltd. (Transferee Company) for every 10 (Ten) equity shares of Rs. 10/- each fully paid up, held by shareholders of the Company (Transferor Company).<br/><br/>The Company has submitted to BSE a copy of the advertisement in this regard given by BIFR and appeared in the newspaper on May 18, 2012.