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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM0.10 EACH IN GRAND-FLO (“PLACEMENT SHARES”) REPRESENTING UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF THE COMPANY (“PROPOSED PRIVATE PLACEMENT”)

GRAND-FLO SOLUTION BERHAD

Type

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

PROPOSED PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM0.10 EACH IN GRAND-FLO (“PLACEMENT SHARES”) REPRESENTING UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF THE COMPANY (“PROPOSED PRIVATE PLACEMENT”)

Contents :

Further to the announcement dated 25 May 2006, K & N Kenanga Bhd, on behalf of Grand-Flo, wishes to announce that the Company has submitted an application to the Securities Commission (“SC”) to seek its approval for the Company to apply the new Guidance Note 8C, which was issued by the SC on 26 April 2006 pursuant to Chapter 8 (Equity Offerings) of the Policies and Guidelines on Issue / Offer of Securities (“Guidance Note 8C”) in relation to the pricing for the Proposed Private Placement. The application of Guidance Note 8C will allow the Company to price the Placement Shares at a discount of up to 10% to the weighted average market price of Grand-Flo shares of RM0.10 each for the five market days immediately prior to the price-fixing date.


This announcement is dated 6 June 2006.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced6 Jun 2006  
CategoryGeneral Announcement
Reference NoO&-060606-60048



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