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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 the Company, is pleased to announce that on 7 June 2006, applications were submitted to the Securities Commission (“SC”) and Foreign Investment Committee (via the SC) respectively to seek their approvals for the Proposed Acquisitions.


This announcement is dated 7 June 2006.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced7 Jun 2006  
CategoryGeneral Announcement
Reference NoO&-060606-59803



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