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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 :

Further to the announcement dated 31 May 2006 pertaining to the Proposals, K & N Kenanga Bhd, on behalf of Grand-Flo, is pleased to announce that Bursa Malaysia Securities Berhad has via its letter dated 1 June 2006, approved in-principle the listing of up to 56,781,600 new Grand-Flo Shares to be issued pursuant to the Proposed Bonus Issue.


This announcement is dated 2 June 2006.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced2 Jun 2006  
CategoryGeneral Announcement
Reference NoO&-060602-62039



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