Highlights:
add free Download App
premium Premium Account

Last Price Change Volume
KLSE Market Watch
Open: Day Range: Prev Close:


GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “THE COMPANY”) - INCORPORATION OF GRAND-FLO RFID SDN. BHD.

GRAND-FLO SOLUTION BERHAD

Type

Announcement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “THE COMPANY”)
- INCORPORATION OF GRAND-FLO RFID SDN. BHD.

Contents :

The Board of Directors of Grand-Flo is pleased to announce the incorporation of Grand-Flo RFID Sdn. Bhd. ("Grand-Flo RFID") with Grand-Flo holding an equity interest of 50% therein. Presently, the authorised capital of Grand-Flo RFID is RM100,000.00 divided into 100,000 ordinary shares of RM1.00 each and the issued and paid-up capital is RM2.00 comprising of 2 ordinary shares of RM1.00 each. Grand-Flo RFID is presently dormant and its principal activities are intended to carry on the business of providing radio frequency identification solutions.


On incorporation, the shareholders and their respective shareholdings of Grand-Flo RFID are Grand-Flo (50%) and Mr. Tan Bak Hong (50%).

On 14 March 2007, the Company acquired the remaining equity of 50% in Grand-Flo RFID from Mr. Tan Bak Hong (“the Acquisition”).

With the Acquisition, Grand-Flo RFID has become a wholly-owned subsidiary of Grand-Flo.

Mr. Tan Bak Hong is a director and substantial shareholder of Grand-Flo. He has a direct shareholding of 4,159,636 shares (3.35%) and an indirect shareholding of 23,559,990 shares (18.97%) in Grand-Flo. He is deemed interested in the Acquisition. Accordingly, Mr. Tan Bak Hong has abstained from deliberating and voting on the resolution in respect of the Acquisition at Grand-Flo’s Board.

Save as disclosed above, none of the other Directors, substantial shareholders of Grand-Flo or persons connected with them have any interest, direct or indirect, in the Acquisition.

This announcement is dated 14 March 2007.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced14 Mar 2007  
CategoryGeneral Announcement
Reference NoCM-070314-51702



Close