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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) PROPOSED INVESTMENT IN SIMAT MOBILE COMPUTER CO., LTD. (“SMC”) INVOLVING:- (i) PROPOSED ACQUISITION OF 490,000 ORDINARY SHARES OF BAHT10.00 EACH (“SMC SHARES”), REPRESENTING 49% EQUITY INTEREST IN SMC FROM THONGKAM MANASILAPAPAN AND CHUTIKARN MANASILAPAPAN FOR A TOTAL PURCHASE CONSIDERATION OF BAHT36,000,000.00 (“PROPOSED ACQUISITION”); AND (ii) PROPOSED SUBSCRIPTION OF 490,000 NEW ORDINARY SHARES OF BAHT10.00 EACH IN SMC AT PAR VALUE FOR A TOTAL SUBSCRIPTION PRICE OF BAHT4,900,000.00 PURSUANT TO A RIGHTS ISSUE TO BE UNDERTAKEN BY SMC UPON COMPLETION OF THE PROPOSED ACQUISITION (“PROPOSED SUBSCRIPTION”) (COLLECTIVELY “PROPOSED INVESTMENT”)

GRAND-FLO SOLUTION BERHAD

Type

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

PROPOSED INVESTMENT IN SIMAT MOBILE COMPUTER CO., LTD. (“SMC”) INVOLVING:-
(i) PROPOSED ACQUISITION OF 490,000 ORDINARY SHARES OF BAHT10.00 EACH (“SMC SHARES”), REPRESENTING 49% EQUITY INTEREST IN SMC FROM THONGKAM MANASILAPAPAN AND CHUTIKARN MANASILAPAPAN FOR A TOTAL PURCHASE CONSIDERATION OF BAHT36,000,000.00 (“PROPOSED ACQUISITION”); AND
(ii) PROPOSED SUBSCRIPTION OF 490,000 NEW ORDINARY SHARES OF BAHT10.00 EACH IN SMC AT PAR VALUE FOR A TOTAL SUBSCRIPTION PRICE OF BAHT4,900,000.00 PURSUANT TO A RIGHTS ISSUE TO BE UNDERTAKEN BY SMC UPON COMPLETION OF THE PROPOSED ACQUISITION (“PROPOSED SUBSCRIPTION”)
(COLLECTIVELY “PROPOSED INVESTMENT”)

Contents :

We refer to our announcement dated 27 December 2004.


The Board of Directors is pleased to announce that all terms and conditions as set out in the Share Acquisition Agreement with respect to the Proposed Acquisition and the terms of the Shareholders Agreement with respect to the Proposed Subscription have been duly performed and the Proposed Investment has been completed on 1 April 2005.

This announcement is dated 1 April 2005.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced1 Apr 2005  
CategoryGeneral Announcement
Reference NoCM-050401-60185



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