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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “THE COMPANY”) PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO RULE 8.15(1) AND GUIDANCE NOTE NO. 13/2007 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE MESDAQ MARKET ("MMLR")

GRAND-FLO SOLUTION BERHAD

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

PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO RULE 8.15(1) AND GUIDANCE NOTE NO. 13/2007 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE MESDAQ MARKET ("MMLR")
Contents
Further to the announcement dated 31 December 2007, Kenanga Investment Bank Berhad, on behalf of the Board of Directors of Grand-Flo, wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had granted the Company an extension of time of six (6) months until 1 July 2008, instead of 1 January 2009 as requested, to comply with the public shareholding spread requirements pursuant to Rule 8.15(1) of the MMLR.

Based on its Record of Depositors as at 31 December 2007, the Company did not comply with Rule 8.15(1) of the MMLR in relation to the public shareholding spread requirement which states that a listed company should have at least 25% of its issued and paid-up capital in the hands of a minimum of 1,000 public shareholders holding not less than 100 shares each (“Required Shareholding Spread”). The public shareholding spread of the Company as at 31 December 2007 was 44.37% held in the hands of 763 public shareholders only.

The Company has yet to formulate a plan to comply with the Required Shareholding Spread. However, the Directors of Grand-Flo are making every effort to improve the liquidity of Grand-Flo’s shares to increase the number of public shareholders to comply with the Required Shareholding Spread.

This announcement is dated 29 January 2008.


Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced29 Jan 2008  
CategoryGeneral Announcement
Reference NoO&-080129-65598



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