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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) (I) PROPOSED BONUS ISSUE OF UP TO 56,781,600 NEW ORDINARY SHARES OF RM0.10 EACH IN GRAND-FLO (“GRAND-FLO SHARES” OR “SHARES”) TO BE ISSUED AND CREDITED AS FULLY PAID-UP TO THE SHAREHOLDERS OF GRAND-FLO ON THE BASIS OF ONE (1) NEW SHARE FOR EVERY ONE (1) EXISTING SHARE HELD (“PROPOSED BONUS ISSUE”); (II) PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN SPRITVEST SDN BHD AND DATA CENTRIX SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM14,000,000, RM7,000,000 TO BE SATISFIED BY THE ISSUANCE OF NEW GRAND-FLO SHARES AND RM7,000,000 TO BE SATISFIED BY CASH CONSIDERATION (“PROPOSED ACQUISITIONS”); and (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL. (COLLECTIVELY KNOWN AS “PROPOSALS”)

GRAND-FLO SOLUTION BERHAD

Type

Announcement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”)

(I) PROPOSED BONUS ISSUE OF UP TO 56,781,600 NEW ORDINARY SHARES OF RM0.10 EACH IN GRAND-FLO (“GRAND-FLO SHARES” OR “SHARES”) TO BE ISSUED AND CREDITED AS FULLY PAID-UP TO THE SHAREHOLDERS OF GRAND-FLO ON THE BASIS OF ONE (1) NEW SHARE FOR EVERY ONE (1) EXISTING SHARE HELD (“PROPOSED BONUS ISSUE”);

(II) PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN SPRITVEST SDN BHD AND DATA CENTRIX SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM14,000,000, RM7,000,000 TO BE SATISFIED BY THE ISSUANCE OF NEW GRAND-FLO SHARES AND RM7,000,000 TO BE SATISFIED BY CASH CONSIDERATION (“PROPOSED ACQUISITIONS”); and

(III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL.

(COLLECTIVELY KNOWN AS “PROPOSALS”)

Contents :

Reference is made to the announcement dated 29 May 2006 pertaining to the Proposals (“Announcement”).


Updates on the minimum scenario

K & N Kenanga Bhd, on behalf of Grand-Flo, wish to announce the updated effects of the Proposed Bonus Issue and Proposed Acquisitions on the issued and paid-up share capital, net assets and substantial shareholders’ shareholdings of Grand-Flo under the minimum scenario as set out in Table 1, 2 and 3 respectively of the said Announcement on the basis that the proposed private placement of up to 5,019,600 new Grand-Flo Shares (“Proposed Private Placement”) is completed after the Proposed Bonus Issue.

The aforementioned updated effects on the issued and paid-up share capital, net assets and substantial shareholders’ shareholdings of Grand-Flo are set out in Table 1, 2, and 3 respectively.

This announcement is dated 31 May 2006.
Tables.DOC

Attachments

Tables.DOC
132 KB



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced31 May 2006  
CategoryGeneral Announcement
Reference NoO&-060531-65433



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