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History of Universal Cables Ltd.

YEAR EVENTS 1945 - The Comp. was Incorporated on 6th March, at Calcutta. The Comp. manufacture & deal in wires, cables & lines of all kinds including A.C.S.R. & all-aluminium & copper conductors, etc.

- 91,800 shares taken up by Directors, etc. 2,58,200 shares offered to public. 275 shares forfeited.

1961 - The name of Comp. was changed from Hindustan Woollen Mills, Ltd., to Universal Cables, Ltd., effective from 15th May.

1977 - 4,79,808 right shares issued at par in prop. 19:50.

1979 - Forfeiture on 40 shares annulled during 1978-79 & on another 40 shares in 1979-80. 8,67,824 bonus shares issued in prop. 1:2 in July 1979.

1983 - The imported plant for manufacture of cross-linked polyethylene compounds was received & it was under installation.

- The Comp. proposed to manufacture high-performance speciality cables for aerospace, electronics, telecommunications, transportation oil exploration & defence industries.

- A letter of intent was received from the Government of India for production of irradiated heat shrinkable products & irradiated heat trace cable.

- The Company technical collaboration with General Electric Comp. of USA for manufacture of capacitors expired during the year.

1984 - The Comp. signed a collaboration agreement with General Electric, USA, for manufacture of capacitors with superior quality non-toxic impregnant.

1987 - 27,34,280 shares issued [prem. Rs 25 per shares]; 26,04,077 shares as rights in prop. 1:1 & 1,30,203 shares to employees under Stock Option Scheme. [All were taken ups].

1990 - Development efforts were afoot for manufacture of new products, such as, CATV cable, cables for telephone switching systems, LAN for computers & aerial bunched cables.

- The Comp. incurred a capital expenditure of Rs 7.24 crores for expansion, manufacture of new products & updating of technology. New products such as water-cooled DC high voltage reactor cable, Geo-phone, Tethar cable etc, were being developed.

1991 - The Comp. also issued another 7,00,000-14% redeemable non-convertible debentures of Rs 100 each to financial institutions on private placement basis. These are to be redeemed premium of 5% in three yearly instalments commencing from 28th October, 1996.

1992 - With the help of R&D, it was proposed to develop special cables for elevators, electronic equipment etc.

- The Comp. along with Vindhya Telelinks Ltd., & Ericosson Cables AB of Sweden, promoted a new Comp. viz., Birla Ericsson Optical Ltd., for manufacture of fibre optic cables.

1993 - Several new products were developed for defence production and electronic equipment.

- 1,00,000-15% redeemable non-convertible debentures of Rs 100 each were privately placed with UTI. These debentures are redeemable at par by August 1st.

- The financial institutions were allotted 1,50,000-15% redeemable non-convertible debentures worth Rs 1.50 crores. These debentures are redeemable at 5% premium on the expiry of 7th year from 21.8.1986.

- The Comp. issued 26,69,179 No. of equity shares of Rs 10 each for cash at a premium of Rs 75 per share on Rights basis in the proportion 1:2 [only 26,67,879 shares taken ups].

- Another 1,33,459 No. of equity shares at a premium of Rs 75 per shares were also issued to the employees on an equitable basis [only 11,650 shares taken ups].

- During September, 2,818 Rights equity shares part of 1988 issue were forfeited for non-payment of calls.

1994 - The Comp. entered into a joint venture agreement with the world-renowned multinational power equipment Comp. ASEA BROWN BOVERI [ABBs] to set up a new Comp. viz. `Universal-ABB Power Cables Ltd.' for manufacture of High Voltage Cross linked Polythene insulated power cables.

- 80,15,489 bonus shares issued in prop. 1:1.

1997 - The Comp. received a letter of intent for manufacture of cross-linked polytheylene [XLPs] compounds.

2002- Universal Cables Ltd has informed that M A Alagappan a Director of Comp. has resigned from the Board of Directors of Comp. w.e.f January 30, 2002.

2006

-Shri. Jagdish Chandra Sharma has been appointed as a Director of Comp. by Board of Directors w. e. f. October 27, 2006.

2007

-Universal Cables Ltd has appointed Shri. Dinesh Chanda as a Director of Comp. by Board of Directors w.e.f. May 23, 2007.