CUBICAL FINANCIAL SERVICES LIMITED : INDEPENDENT DIRECTORS RECOMMEND OPEN OFFER PRICE OF RS 2.50 PER SHARE

• Recommendations of the Committee of Independent Directors (IDC) on the Open Offer for acquisition of upto 3,77,44,200 Equity Shares representing 26.00% of the Emerging Equity and Voting Share Capital from shareholders. • Offer is being made by Mr. Manoj Agrawal and Mr. Amit Kumar Saraogi (Acquirers) together with PACs. • The Offer Price is Rs. 2.50/- per equity share along with applicable interest of upto Rs. 0.021 per fully paid-up Equity Shares. • IDC members are of the opinion that the offer price is fair and reasonable and in line with SEBI SAST Regulations, 2011. • Target company has not received any complaint from shareholders regarding the Open Offer process, valuation price or method of valuation. • The recommendations were unanimously approved by the Members of the IDC.

Cubical Financial Services Ltd

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