9th May 2007

To
The Bombay Stock Exchange Ltd                                   By FAX & COURIER
National Stock Exchange Ltd.
Cochin Stock Exchange Ltd.
Dear Sirs,

Board Meeting
Notice is hereby given that a meeting of the Board of Directors of FCI OEN Connectors Ltd., is scheduled to be held on Saturday, 12th May 2007, at the Corporate office of the Company at Cochin, to consider the letter received from FCI SA, France, expressing its intention inter alia to acquire the entire equity shares in the Company held by public shareholders and thereby resulting in the consequential delisting of the shares of the Company on the Stock Exchanges on which it is listed in accordance with the provisions of the Securities and Exchange Board of India (Delisting of Securities) Guidelines -2003 (“Delisting Guidelines”).

As further requested by FCI SA, France, the Board of Directors of FCI OEN Connectors Ltd., will also consider to convene a meeting of its shareholder to obtain their prior approval by a special resolution passed at its general meeting to consider the delisting in accordance with the said Delisting Guidelines.
Thank you.
                                                                                  Yours faithfully,
                                                                                   For FCI OEN CONNECTORS LTD.
                                                                                     Sd/-
                                                                                         (BIJU K. ELIAS)
                                                                                  COMPANY SECRETARY

 

 

12th  December 2006

To

Bombay Stock Exchange Ltd.                                              BY FAX & COURIER
National Stock Exchange Ltd.
Cochin Stock Exchange Ltd.

 

Dear Sirs,
 
Sale of Automotive Connector Business

The Board of Directors of the Company at  its meeting held today  agreed to the sale of its Automotive Connector business to FCI Technology Services Ltd, Cochin, a 100% subsidiary of FCI Asia Pte. Ltd., Singapore, subject to the approval of the Shareholders as required by Section 293(1)(a) of the Companies Act, 1956 and the approval of FIPB for FCI Asia Pte Ltd to undertake the Automotive Connector Business.

The Company has been operating the Automotive business for over seven years now, and while the business is performing satisfactorily, it remains a very small part of FCI OEN today.  The growth of the Company has been driven by the Communications business, which continues to perform strongly.  For the last six months, the Communications business has outperformed management expectations, while the Automotive business has been moderately affected by some of the headwinds in the global auto industry.  Given recent internal analysis, there now exists an opportunity for FCI OEN to receive business transfers from the Communications business of FCI abroad, providing the Indian Communications business with an opportunity for marked growth in this segment.  Hence the Board of Directors concluded that the Automotive Connectors business is non-core to the current strategy of the Company, and that it needs to focus heavily on the fast-growing Communications business.

M/s. Varma & Varma,   an independent audit firm, valued the Automotive business of the Company as on 10.12.2006.  Based on the valuation,  Board of Directors fixed the sale consideration at Rs.258.2 million plus value of fixed assets and inventories for Automotive business to be acquired by the Company from 10.12.2006 to the effective date of sale.  The effective date of sale is fixed at 31.12.2006.   The above sale consideration includes the value of all intangibles, fixed assets and net current assets exclusively used for the Automotive business, but excluding the factory land, building and its furnishings.

Thank you.

                                                                                        Yours faithfully,
                                                                         For FCI OEN CONNECTORS LTD.
                                                                                                 Sd/-
                                                                                         (BIJU K. ELIAS)
                                                                                 COMPANY SECRETARY