Cubex Tubings - Outcome of EGM

• Security Code: 526027
• Company: CUBEXTUB

Cubex Tubings Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company at its meeting held on February 20, 2006, inter alia, have accorded to the following:

1. Authority to the Board for offering, issuing and allotting 9,25,000 Equity Shares to Persons other than promoters on preferential basis and on the basis of issue price to be determined as per the existing SEBI (Disclosure and Investor Protection) Guidelines, 2000 and on such terms and conditions as may be decided by the Board including the terms of issue as to the price and other connected matters on such terms and conditions as may be decided and deemed appropriate by the Board, subject to necessary approval & provisions.

2. Authority to the Board to offer / issue and allot not more than 9,50,000 Warrants, at the issue price to be determined in accordance with the relevant SEBI Guidelines, convertible, at the option of the warrant holders within an aggregate time period of 18 months from date of allotment of the warrants into 9,50,000 Equity Shares at a price as determined in accordance with the relevant SEBI Guidelines, to the persons other than promoters of the Company on a preferential basis, as the Board may in its absolute discretion decide, in one or more tranches and on such terms and conditions, as the board considers fit, subject to necessary approval & provisions.

3. Authority to the Board to offer / issue and allot not more than 6,25,000 warrants, at the issue price to be determined in accordance with the relevant SEBI Guidelines, convertible, at the option of the warrant holders within an aggregate time period of 18 months from date of allotment of the warrants into 6,25,000 equity shares at a price as determined in accordance with the relevant SEBI Guidelines, to the promoters of the company, on a preferential basis, as the Board may in its absolute discretion decide, in one or more tranches and on such terms and conditions, as the board considers fit, subject to necessary approval & provisions.