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 “COMPANY”) - PROPOSED ACQUISITION BY LABELS NETWORK SDN BHD OF 80% EQUITY INTEREST IN PENKOPACK SDN BHD, FOR A TOTAL PURCHASE CONSIDERATION OF RM1,120,000.00 PAYABLE IN CASH, IN THREE (3) TRANCHES (“PROPOSED ACQUISITION”)

GRAND-FLO SOLUTION BERHAD

TypeAnnouncement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”)
- PROPOSED ACQUISITION BY LABELS NETWORK SDN BHD OF 80% EQUITY INTEREST IN PENKOPACK SDN BHD, FOR A TOTAL PURCHASE CONSIDERATION OF RM1,120,000.00 PAYABLE IN CASH, IN THREE (3) TRANCHES (“PROPOSED ACQUISITION”)
ContentsFurther to the announcement dated 25 June 2008 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 had via its letter dated 11 August 2008 approved the sale and purchase of the Sale Shares, subject to Penkopack Sdn Bhd increasing its Bumiputera equity to at least 30% before 31 December 2010.

The Board of Directors is also pleased to announce that thereafter, on 14 August 2008, the Proposed Acquisition has been completed in accordance with the terms of the Share Acquisition Agreement dated 25 June 2008.

This announcement is dated 14 August 2008.


Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced14 Aug 2008  
CategoryGeneral Announcement
Reference NoCM-080814-41498



Close