Outcome of board meeting of Manaksia Coated Metals & Industries

Held on 11 April 2015

Manaksia Coated Metals & Industries announced that the Board of Directors of the Company at its meeting held on 11 April 2015, inter alia, has considered and approved the following:

1. To diversify into business of agri-products/forest products, commercial, natural and man-made fibres, yarns and textiles of all kinds.

2. To form a wholly owned subsidiary company in Hamriyah Free Zone, United Arab Emirates.

3. To acquire entire share capital of UNI - METALS EAST AFRICA, located in Tanzania and make it a wholly owned subsidiary of the Company.

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