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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) - PROPOSED ACQUISITION OF 55,000 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 55% EQUITY INTEREST IN LABELS NETWORK SDN BHD (“LNSB”) FROM CHAN PIK KHEW AND WAN KOK WENG FOR A TOTAL PURCHASE CONSIDERATION OF RM3,905,000.00 PAYABLE IN CASH, IN THREE (3) TRANCHES (“PROPOSED ACQUISITION”)

GRAND-FLO SOLUTION BERHAD

TypeAnnouncement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”)
- PROPOSED ACQUISITION OF 55,000 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 55% EQUITY INTEREST IN LABELS NETWORK SDN BHD (“LNSB”) FROM CHAN PIK KHEW AND WAN KOK WENG FOR A TOTAL PURCHASE CONSIDERATION OF RM3,905,000.00 PAYABLE IN CASH, IN THREE (3) TRANCHES (“PROPOSED ACQUISITION”)
ContentsFurther to the announcements dated 18 December 2007 and 19 December 2007 in respect of the Proposed Acquisition, the Board of Directors of Grand-Flo is pleased to announce that the Foreign Investment Committee of the Prime Minister’s Department has approved the sale and purchase of the Sale Shares, subject to LNSB increasing its Bumiputera equity to at least 30% before 30 June 2010.

The Board of Directors is also pleased to announce that thereafter, on 31 January 2008, the proposed acquisition has been completed in accordance with the terms of the Share Acquisition Agreement dated 18 December 2007.


This announcement is dated 31 January 2008.


Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced31 Jan 2008  
CategoryGeneral Announcement
Reference NoCM-080131-65282



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