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GRAND-FLO SOLUTION BERHAD ("GRAND-FLO") - LISTING OF ORDINARY SHARES OF SIMAT TECHNOLOGIES PUBLIC COMPANY LIMITED (FORMERLY KNOWN AS SIMAT MOBILE COMPUTER CO. LTD.) ("SIMAT") ON THE MARKET FOR ALTERNATIVE INVESTMENT IN THAILAND ("MAI")

GRAND-FLO SOLUTION BERHAD

Type

Announcement
SubjectGRAND-FLO SOLUTION BERHAD ("GRAND-FLO")

- LISTING OF ORDINARY SHARES OF SIMAT TECHNOLOGIES PUBLIC COMPANY LIMITED (FORMERLY KNOWN AS SIMAT MOBILE COMPUTER CO. LTD.) ("SIMAT") ON THE MARKET FOR ALTERNATIVE INVESTMENT IN THAILAND ("MAI")

Contents :

On behalf of the Board of Directors of Grand-Flo, Kenanga Investment Bank Berhad (formerly known as K&N Kenanga Bhd) is pleased to announce that on 12 December 2007, Simat, an associated company of Grand-Flo, listed its entire issued and paid-up share capital of Baht 75 million comprising 75 million of ordinary shares of Baht 1.00 each (“Simat Share”) on the Market for Alternative Investment in Thailand (“MAI”).


Simat’s retail price was fixed at Baht 3.80 per Simat Share, it opened on the MAI at a premium of 35.5% or Baht 5.15 and jumped to a high of Baht 6.65 in early trade representing a further premium of 39.5%. It closed at Baht 4.66 per Simat Share with a total volume of 90,517,200 shares for the day.

The listing of Simat Shares on the MAI enabled Grand-Flo to unlock and enhance the value of its investment in Simat and allowed Simat to gain access to the capital markets in Thailand for capital raising to further pursue its growth opportunities to accelerate its expansion plans in the near future. The Boards of Simat and Grand-Flo believe that the listed status of Simat strengthens the company’s position in the pursuit of more business opportunities in government-related projects in Thailand.

In addition, Simat enjoys a reduction in corporate tax from 30% to 20% for next three (3) consecutive accounting years (financial years ending 31 December 2008 to 2010). The reduction in corporate tax was the Thai Government’s policy to encourage companies to list on the Stock Exchange of Thailand (“SET”) by providing tax benefits for those that submit their applications to list on the SET in year 2007 and are traded on the SET by the end of year 2008.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced12 Dec 2007  
CategoryGeneral Announcement
Reference NoO&-071212-67324





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