Outcome of Board Meeting

• Security Code: 504212
• Company: UNIVCABLES

Universal Cables Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 12, 2016 has considered and approved the proposal for entering into a Share Purchase Agreement ('SPA') with Ericsson Network Technologies, AB (formerly known as Ericsson Cables AB), Sweden ('ENT'), on One Part and the Company and Vindhya Telelinks Limited ('VTL') on the other part (Indian Venturers), for acquisition of entire 27.50% shareholding of ENT in Birla Ericsson Optical Limited ('BEOL') by the Indian Venturers and/or other promoters and promoter group person/entities of BEOL as designated by the Indian Venturers, subject to compliance of certain conditions as contained in the Share Purchase Agreement.

Although, the Company being an Indian Venturer and promoter of BEOL is entitled to acquire the said shares from ENT, the Company may alternatively decide to designate other promoters and promoter group person/entities for acquiring the shares from ENT in consultation and agreement with VTL in accordance with the terms of the Joint Venture Agreement dated May 27, 1992 and SPA as aforesaid. Accordingly, the Company has decided not to exercise its option to acquire the said shares of BEOL from ENT, and has instead decided to designate in consultation and consent of VTL, other Promoters and Promoter group person /entities for acquisition of entire shareholding of ENT in BEOL. Other disclosures as required under the captioned Regulation 30(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are furnished in the prescribed form as per Annexure 1 attached hereto. After such acquisition of shares of ENT in BEOL by other Promoters and Promoter group person/entities, Ericsson Network Technologies AB (formerly known as Ericsson Cables AB), Sweden shall cease to be a promoter/shareholder/technical collaborator of BEOL.